Ingram Micro price target lowered to $25 from $30 at Loop Capital

Loop Capital lowered the firm’s price target on Ingram Micro (INGM) to $25 from $30 but keeps a Buy rating on the shares after its Q4 results. The company’s gross margin pressure is being driven by average sales price competition in large India deals, th ongoing softness in small-medium business, even though green shoots are emerging, and its softer networking revenue, the analyst tells investors in a research note. Operating expense for Ingram Micro is also expected to be higher through FY25 and early FY26 due to Xvantage implementations, however it is expected to be optimized below 5% of sales by next year, the firm added.