TD Synnex price target lowered to $172 from $177 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on TD Synnex (SNX) to $172 from $177 and keeps an Overweight rating on the shares. While “increasingly concerned” about the impact of memory price inflation on hardware budgets and demand elasticity, the company’s exposure to higher value segments and strong free cash generation keep the firm at Overweight, the analyst tells investors.