Ingram Micro price target raised to $33 from $24 at RBC Capital

RBC Capital raised the firm’s price target on Ingram Micro (INGM) to $33 from $24 and keeps an Outperform rating on the shares ahead of its Q1 results. The company sits at the intersection of an AI enabler through its distribution of hardware, networking, GPUs, and AI infrastructure products, and an AI beneficiary both internally and externally via Xvantage, which leverages data and AI to drive growth without incremental operating expense, . the analyst tells investors in a research note. Momentum in AI infrastructure and GPU deals represents a strategically important opportunity as AI becomes increasingly accessible beyond Enterprise to small businesses, the firm added.