Brean Capital raised its price target on SYNNEX to $108 from $97 following Q2 results. The firm cited solid operational execution and expectations for the same to continue in the second half of the year. Brean Capital reiterated its Buy rating on SYNNEX shares.
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The deal size was increased to 10.5M shares of common stock from 9M shares of common stock and the range was $109.00-$116.00. JPMorgan, Barclays, BofA and Mizuho acted as joint book running managers for the offering.
Barclays raised the firm's price target on TD Synnex to $118 from $111 and keeps an Equal Weight rating on the shares. The company reported largely in-line fiscal Q1 results and the new $2B share repurchase authorization is a modest positive, the analyst tells investors in a research note. The firm says TD Synnex's margins outperformed again although revenue continues to be impacted by Advanced Solutions weakness and Hyve consignment shift.