Samik Chatterjee, an analyst from J.P. Morgan, maintained the Hold rating on Ingram Micro Holding Corporation (INGM – Research Report). The associated price target was lowered to $26.00.
Samik Chatterjee has given his Hold rating due to a combination of factors impacting Ingram Micro Holding Corporation. The company is experiencing a mixed macroeconomic environment, with enterprise IT spending showing signs of recovery but not uniformly across all sectors. This uneven recovery is reflected in Ingram’s guidance, which anticipates margin pressures and limited growth in higher-margin segments, such as Advanced Solutions, amid fierce competition in markets like India.
Moreover, while there are positive demand signals in certain areas like PC and End-Point Solutions, particularly in North America, international demand remains weak, especially in the EMEA region. This contributes to a cautious outlook for 2025, with potential volatility due to factors like tariffs on IT equipment and price elasticity concerns. Additionally, despite expected revenue growth, EPS is projected to decline year-over-year due to lower gross margins and ongoing investments, which further supports the Hold rating as significant catalysts for growth are limited in the near term.
Chatterjee covers the Technology sector, focusing on stocks such as Apple, Super Micro Computer, and Qualcomm. According to TipRanks, Chatterjee has an average return of 10.9% and a 58.61% success rate on recommended stocks.