RBC Capital raised the firm’s price target on TD Synnex (SNX) to $180 from $165 and keeps an Outperform rating on the shares. The company delivered a beat-and-raise quarter with 12% y/y billings growth to $22.7B, driven by ongoing PC refresh cycles, mid-30% growth in Hyve, and continued strength in cyber, software, and cloud, the analyst tells investors in a research note. TD Synnex margins exceeded estimates, reflecting a focus on higher-margin categories, operational discipline, and better cost leverage, the firm added.
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