TD Synnex price target lowered to $98 from $103 at Barclays

Barclays analyst Tim Long lowered the firm’s price target on TD Synnex to $98 from $103 and keeps an Equal Weight rating on the shares. The company reported weaker than expected fiscal Q2 results and second half of 2023 revenue outlook on the macro environment and continued PC weakness, the analyst tells investors in a research note. The firm says Hyve is also expected to decline in the second half on tough compares with inventory coming down.