Information Provided By:
Fly News Breaks for May 2, 2016
TECD
May 2, 2016 | 06:34 EDT
Citi analyst Jim Suva double downgraded Tech Data to Sell citing early evidence that the cloud is increasingly starting to disrupt traditional IT distributors. Information Technology spending has increasingly shifted to the cloud, which makes consensus estimates for IT distributors too high, Suva tells investors in a research note. He downgraded a handful of names in the space after materially lowering his revenue and earnings estimates. The analyst cut his price target for Tech Data to $55 from $76.
News For TECD From the Last 2 Days
There are no results for your query TECD