TD Synnex price target raised to $156 from $138 at Barrington

Barrington raised the firm’s price target on TD Synnex (SNX) to $156 from $138 and keeps an Outperform rating on the shares. The company’s Q4 revenue beat consensus estimates, with non-GAAP gross billings increasing year-over-year, driven by an 11% increase in advanced solutions and a 3% increase in endpoint solutions, the analyst tells investors in a research note. Barrington expects the IT market to improve throughout fiscal 2025, which should benefit the company, and believes revenue growth and non-GAAP gross billings growth should exceed fiscal 2024 growth in fiscal 2025 and fiscal 2026.