Ingram Micro price target raised to $34 from $26 at Raymond James

Raymond James raised the firm’s price target on Ingram Micro (INGM) to $34 from $26 and keeps an Outperform rating on the shares. Ingram Micro delivered strong Q1 revenue growth but limited operating leverage and a cash outflow driven partly by prior-quarter normalization, while ongoing efforts around margin improvement, more consistent cash generation, and expanded share repurchases could help narrow its valuation discount to peers over time, the analyst tells investors in a research note.