BofA raised the firm’s price target on TD Synnex to $135 from $120 and keeps a Buy rating on the shares following the fiscal Q1 report. The company continues to see a stronger second half of 2024 for billings and revenue. While customer concentration in Hyve remains, TD Synnex is ramping a new customer, the analyst tells investors in a research note. The firm likes the company’s mix shift to higher margin products and services, broad portfolio, and cross-sell opportunities.
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