TD SYNNEX Corporation (NYSE:SNX) is one of the most undervalued and overlooked large-cap stocks. On August 21, David Paige, an analyst from RBC Capital, raised his price target on TD SYNNEX Corporation (NYSE:SNX) to $165 from $145 while maintaining an Outperform rating. The update comes ahead of Q3 results, where RBC expects strength across multiple segments.
Angelo Giampiccolo/Shutterstock.com
The analyst highlighted benefits from the ongoing PC refresh cycle, modest networking growth, and stronger Hyve performance tied to AI infrastructure investments. He also expects a focus on profitable growth to offset ES/AS mix headwinds and recent investments in Hyve capabilities.
With multiple drivers in play, Paige anticipates TD SYNNEX Corporation will top estimates and raise guidance, providing further support for the Outperform rating and a higher target.
TD SYNNEX Corporation is a global IT distributor that delivers technology products, logistics, and cloud services to resellers and enterprises.
READ NEXT: Top 10 Stocks to Buy and Hold Forever and 12 Overlooked Large-Cap Stocks with Low Multiples.
This article is originally published at Insider Monkey.
