TD Synnex price target raised to $150 from $120 at Loop Capital

Loop Capital analyst Ananda Baruah raised the firm’s price target on TD Synnex to $150 from $120 and keeps a Buy rating on the shares after its Q1 earnings beat last week. The stock is up 30% since November, with meaningful contributors being a reduction in ownership from Apollo as well as the start of a meaningful conversation on the company’s EPS call of Gen AI activity, along with an anticipated impact the next 5 years that has the potential to impact TD Synnex’s structural revenue growth rate, the analyst tells investors in a research note.