William Blair analyst Maggie Nolan has maintained their bullish stance on INGM stock, giving a Buy rating today.
Maggie Nolan’s rating is based on Ingram Micro’s strong performance in North America, where the company saw a significant sequential revenue growth of 9.3% across its business lines. This growth is largely attributed to the robust demand in cloud and client and endpoint solutions, which has been a key driver for the company’s overall revenue increase of 13.4% sequentially. Additionally, the company’s Xvantage platform has shown impressive results, with a 50% year-over-year increase in end-user engagement, indicating strong customer interest and potential for future growth.
Despite some challenges, such as competitive pricing pressures in India and a weaker performance in advanced solutions due to networking issues, the company is optimistic about improvements in these areas in 2025. Furthermore, Ingram Micro has managed to maintain solid free cash flow and has effectively passed through tariffs, minimizing their impact on demand. These factors combined suggest a positive outlook for the company, justifying Maggie Nolan’s Buy rating.
In another report released today, RBC Capital also maintained a Buy rating on the stock with a $28.00 price target.