Analyst Vincent Colicchio of Barrington maintained a Buy rating on TD SYNNEX Corporation (SNX – Research Report), retaining the price target of $156.00.
Vincent Colicchio has given his Buy rating due to a combination of factors that suggest potential growth for TD SYNNEX Corporation. The company’s non-GAAP gross billings for fiscal Q1/25 exceeded both the firm’s and FactSet’s forecasts, driven by growth in endpoint and advanced solutions. Despite a revenue shortfall due to Hyve component shipment delays and demand issues, the overall revenue showed a year-over-year increase.
Colicchio anticipates that TD SYNNEX will experience solid growth in non-GAAP gross billings and revenue in the coming fiscal years, benefiting from an improved IT market. Although there is a reduction in EPS forecasts for fiscal 2025 and 2026 due to Hyve’s demand slippage, the analyst maintains an OUTPERFORM rating with a 12-month price target of $156, reflecting a 45% upside potential. This optimistic outlook is supported by the company’s strategic positioning and market opportunities.
In another report released today, UBS also maintained a Buy rating on the stock with a $138.00 price target.