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Fly News Breaks for September 18, 2017
TECD
Sep 18, 2017 | 08:24 EDT
Needham analyst Sean Hannan assumed coverage of Tech Data with a $100 price target and a Buy rating. The analyst blames the company's "disappointing" Q2 results and guidance primarily on short-term issues. He calls the company " a leading global technology distributor that offers 1-stop shopping for its large customer base" and believes that it can benefit from a number of tech trends, including the cloud and security. Hannan identifies the stock as his top pick in the reseller/distributor space.
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