Ingram Micro Holding Corporation: Strong Q1 Performance and Positive Outlook Drive Buy Rating

Erik Woodring, an analyst from Morgan Stanley, maintained the Buy rating on Ingram Micro Holding Corporation (INGM – Research Report). The associated price target was raised to $23.00.

Erik Woodring has given his Buy rating due to a combination of factors that highlight Ingram Micro Holding Corporation’s strong financial performance and potential for growth. The company’s first-quarter results exceeded expectations, with revenue and earnings per share surpassing the upper range of guidance, despite challenges in gross margins due to a higher mix of PC sales. This performance indicates robust execution and positions the company well for future growth.
While there is some uncertainty regarding the second half of the year, with management noting potential tightening in PC spending, the outlook for the second quarter remains positive. The company’s strength in servers, cybersecurity, and Asia Pacific smartphones contributes to this optimism. As a result, estimates have been revised upward, and the price target has been increased to $23, reflecting confidence in Ingram Micro’s ability to navigate the current market conditions and deliver value to shareholders.

In another report released on May 1, RBC Capital also maintained a Buy rating on the stock with a $25.00 price target.