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Stifel Nicolaus Thinks SYNNEX Corp’s Stock is Going to Recover


Stifel Nicolaus analyst Matthew Sheerin maintained a Buy rating on SYNNEX Corp (NYSE: SNX) today and set a price target of $114. The company’s shares closed yesterday at $84.90, close to its 52-week low of $81.42.

According to TipRanks.com, Sheerin is a 4-star analyst with an average return of 13.1% and a 65.2% success rate. Sheerin covers the Consumer Goods sector, focusing on stocks such as Vishay Intertechnology, Pure Storage Inc, and Kemet Corp.

Currently, the analyst consensus on SYNNEX Corp is a Moderate Buy with an average price target of $137.

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Based on SYNNEX Corp’s latest earnings release for the quarter ending May 31, the company reported a quarterly net profit of $92.83 million. In comparison, last year the company had a net profit of $74.47 million.

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SYNNEX Corp. engages in the provision of distribution, logistics, and integration services for the technology industry. It offers outsourced services focused on customer engagement strategy. It operates its business through the Technology Solutions and Concentrix segments.