JPMorgan analyst Joseph Cardoso downgraded TD Synnex to Neutral from Overweight with a price target of $113, up from $112. In conjunction with its 2024 hardware and networking outlook report, the firm made several rating changes. The analyst cites the combination of limited upside to consensus estimates on a challenged enterprise IT spending environment and a higher than average valuation multiple for the downgrade of TD Synnex.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on SNX: