Ingram Micro initiated with a Neutral at JPMorgan

JPMorgan initiated coverage of Ingram Micro (INGM) with a Neutral rating and $28 price target The company has a solid positioning in the enterprise IT market, but its near-term catalysts might be limited pending greater evidence of a rebound in enterprise IT spending following the pullbacks in 2023 and 2024, the analyst tells investors in a research note. The firm says its “conservative” estimates for low- to mid- single digit revenue growth and modest margin expansion lead it to expect mid-single digit earnings growth.