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Fly News Breaks for March 9, 2017
AVT, TECD
Mar 9, 2017 | 08:55 EDT
As previously reported, Needham analyst Richard Kugele upgraded Tech Data (TECD) to Buy from Hold, with a $107 price target, on Avnet (AVT) deal. The analyst believes that the temporary uncertainty created by the lack of Q1 guidance due to the timing of the close of the Avnet deal creates a window to become more positive on Tech Data. The company's execution in F17 was "extremely impressive," gaining share in key areas while improving margins and EPS.
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