Citi analyst Asiya Merchant downgraded CDW to Neutral from Buy with a price target of $245, down from $250. The firm cites a more cautious view of the PC recovery in the second half of 2024 for the downgrade. Recent channel checks in the PC ecosystem suggest the near-term PC refresh opportunity remains protracted, given macro uncertainty and Windows 10 security patch extensions, while artificial intelligence impacts are likely further out into 2026 and 2027, the analyst tells investors in a research note. Citi sees limited upside to demand across CDW’s key verticals.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Questions or Comments about the article? Write to editor@tipranks.com