Raymond James raised the firm’s price target on TD Synnex (SNX) to $175 from $160 and keeps a Strong Buy rating on the shares following Q3 results and Q4 guidance that featured upside to revenue and EPS, though FY25 free cash flow is now expected to be 800M vs prior expectations of $1.1B. While the firm is “admittedly disappointed” that the free cash flow may fall below $1B for the first time in two years, it does think the rationale for this makes sense for longer term shareholders.
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