TD Synnex price target lowered to $90 from $106 at Credit Suisse

Credit Suisse analyst Shannon Cross lowered the firm’s price target on TD Synnex to $90 from $106 and keeps a Neutral rating on the shares. The firm notes TD Synnex reported Q2 revenue of $14.06B, down 8% year-over-year and below Credit Suisse’s estimate of $14.51B and the Street’s at $14.43B, primarily due to declines in PC demand and, to a lesser extent, higher mix of netted-down revenue.