TD Synnex price target raised to $115 from $107 at UBS

UBS raised the firm’s price target on TD Synnex to $115 from $107 and keeps a Neutral rating on the shares. TD Synnex’s Q1 results were modestly soft on the topline with revenue missing by 2%, but the mix shift towards netted revenue helped drive a strong margin and EPS beat, the analyst tells investors in a research note. Another positive in the quarter was the company’s announcement of a new $2B share repurchase authorization, which highlights TD Synnex’s commitment to return at least 50% of free cash flow, the firm says.