In a report released today, Surinder Thind from Jefferies reiterated a Buy rating on Ingram Micro Holding Corporation (INGM – Research Report), with a price target of $24.00.
Surinder Thind’s rating is based on a combination of factors that highlight both the challenges and opportunities for Ingram Micro Holding Corporation. Despite a decline in adjusted EPS estimates due to a shift towards simpler, lower-margin products, the company’s valuation remains attractive. The recent revenue growth of 2.5% year-over-year exceeded expectations, although gross margins fell short due to a continued delay in client transitions to higher-margin solutions.
Looking forward, management anticipates an improvement in demand from SMB clients as the technology refresh cycle progresses, potentially driven by the upcoming release of Windows 12. Although geopolitical volatility presents a near-term risk, the company’s strategic initiatives, such as the deployment of the Xvantage platform and continued debt reduction, position it well for future growth. Consequently, Thind reiterates a Buy rating, expecting the company’s scale and global presence to capitalize on the anticipated tech refresh cycle.
According to TipRanks, Thind is a 4-star analyst with an average return of 6.9% and a 48.63% success rate. Thind covers the Technology sector, focusing on stocks such as CGI, Cognizant, and Epam Systems.
In another report released on March 10, Loop Capital Markets also maintained a Buy rating on the stock with a $25.00 price target.
Questions or Comments about the article? Write to editor@tipranks.com