Truist analyst Matthew Niknam raised the firm’s price target on Ingram Micro (INGM) to $29 from $25 and keeps a Hold rating on the shares after Q1 earnings beat. The firm is encouraged by the healthy IT spending backdrop to showcase the company’s results with double-digit growth across each of the company’s regions, the analyst tells investors in a research note. Truist adds that Ingram Micro’s Q2 outlook assumes some slowdown but similar trends.
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