RBC Capital analyst David Paige raised the firm’s price target on TD Synnex (SNX) to $165 from $145 and keeps an Outperform rating on the shares ahead of its Q3 results. The quarter should benefit from a PC refresh cycle, low single digit networking growth, and improved growth in Hyve, driven by AI infrastructure spending, while a focus on profitable growth should help alleviate ES/AS mix headwinds as well as in investment in Hyve capabilities, the analyst tells investors in a research note. RBC expects TD Synnex to top estimates and raise guidance, the firm added.
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