Erik Woodring, an analyst from Morgan Stanley, maintained the Buy rating on Ingram Micro Holding Corporation (INGM – Research Report). The associated price target was lowered to $26.00.
Erik Woodring has given his Buy rating due to a combination of factors that suggest a positive outlook for Ingram Micro Holding Corporation despite some current challenges. The company has shown a return to year-over-year revenue growth in the fourth quarter of 2024 and is expected to continue this trend into 2025, driven by stabilization and potential growth in various end markets. Management’s confidence in achieving revenue growth further supports this optimistic view.
However, there are notable challenges impacting profitability, particularly in India and Europe, where competition and market conditions are affecting gross margins and earnings per share. Despite these headwinds, Woodring believes these issues are largely isolated and that the company’s overall growth trajectory remains intact. Consequently, while the earnings per share outlook for 2025 has been slightly reduced, the long-term potential justifies maintaining a Buy rating with a price target adjustment to $26.
In another report released on February 21, RBC Capital also maintained a Buy rating on the stock with a $28.00 price target.