TD Synnex price target raised to $173 from $155 at Morgan Stanley

Morgan Stanley analyst Erik Woodring raised the firm’s price target on TD Synnex (SNX) to $173 from $155 and keeps an Overweight rating on the shares. The firm’s latest value-added reseller checks suggest enterprise hardware spending is tracking in-line to slightly above expectations in calendar Q3, the analyst tells investors. With full year growth now looking modestly higher than in July, the firm sees a “tactically positive” set-up for TD Synnex into earnings next week, the analyst added.