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TECD

Tech Data

$109.29

0.31 (0.28%)

06:12
04/17/19
04/17
06:12
04/17/19
06:12

Tech Data downgraded to Hold from Buy at Stifel

Stifel analyst Matthew Sheerin downgraded Tech Data to Hold from Buy with an unchanged price target of $105. After rallying 34% year-to-date, the shares now appear fairly valued, Sheerin tells investors in a research note. The analyst notes the stock currently trades at nine-times forward earnings while IT spending growth is expected to slow next year.

TECD Tech Data
$109.29

0.31 (0.28%)

08/31/18
BOFA
08/31/18
DOWNGRADE
Target $80
BOFA
Underperform
Tech Data downgraded to Underperform from Buy at BofA/Merrill
BofA/Merrill analyst Param Singh double downgraded Tech Data to Underperform from Buy and cut its price target to $80 from $105 following the Q2 miss and guidance. Singh said Tech is facing structural margin issues from a revenue mix shift towards lower margin PC and smartphones, and from competition in Europe. The analyst sees limited earnings growth beyond his $10+ earnings estimate for C2019 due to a lack of operating leverage.
08/31/18
NEED
08/31/18
NO CHANGE
Target $100
NEED
Buy
Tech Data price target lowered to $100 from $115 at Needham
Needham analyst Sean Hannan lowered his price target on Tech Data to $100 after its Q2 results, also lowering his FY19 EPS view to $3.95 from $4.13 and his implied forward earnings multiple to 10-times from 11-times. The analyst cites the company's "multiple consecutive quarters" of mixed outcomes, which raises questions around the management's "quality of internal execution". In the most recent quarter, Hannan states that gross margins were a "disappointment", attributed to a less favorable sales mix. The analyst keeps his Buy rating on Tech Data longer term however, saying the company is "demonstrating growth and cost-control efforts" within a "healthy" operating environment.
11/29/18
STFL
11/29/18
NO CHANGE
Target $100
STFL
Buy
Tech Data price target raised to $100 from $95 at Stifel
Stifel analyst Matthew Sheerin raised his price target for Tech Data to $100 from $95 following a "solid" beat and raise. Both revenue and EPS were well above consensus, even when excluding a one-time benefit to op-ex, he noted. The analyst reiterates a Buy rating on the shares.
11/30/18
NEED
11/30/18
NO CHANGE
Target $110
NEED
Buy
Tech Data price target raised to $110 from $100 at Needham
Needham analyst Sean Hannan raised his price target on Tech Data to $110 and kept his Buy rating after its "strong beat" in Q3 earnings following a string of "mixed" quarters. The analyst believes that the company is "finally" in position to take advantage of improved demand environment and that its prior issues around pricing and rebates are largely in the past. Hannan adds that the valuation on Tech Data stock is also attractive.

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