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Fly News Breaks for May 18, 2016
SNX
May 18, 2016 | 07:42 EDT
Raymond James analyst Brian Alexander upgraded SYNNEX two notches to Outperform from Underperform and established an $87 price target. The analyst believes both valuation and earnings estimates have overcorrected, leaving attractive risk/reward. Alexander believes 2H 2016 estimates are now conservative and expects the May quarter to represent a trough in margins and for investor sentiment to begin to improve.
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