Loop Capital positive on TD Synnex value amid cross-currents

Loop Capital keeps a Buy rating and $120 price target on TD Synnex after its Q3 earnings beat last week. The company experienced continued weakness for Endpoint Solutions, but its management also believes it is seeing the trough at current levels, the analyst tells investors in a research note. Loop Capital added that while the company’s Advanced Solutions was stronger than anticipated in the August quarter and helped to somewhat offset Endpoint Solutions, with Europe starting to soften and the macro environment remaining uncertain in general, calling for ongoing strength and outperformance in advanced solutions remains “a bit tricky”, even though it sees value in the stock.