Ingram Micro price target lowered to $26 from $28 at Raymond James

Raymond James analyst Adam Tindle lowered the firm’s price target on Ingram Micro (INGM) to $26 from $28 and keeps an Outperform rating on the shares. Ingram Micro’s Q4 results featured solid growth trends, disappointing profitability metrics, and below-the-line items aiding in EPS that was essentially in-line with the firm’s estimates, the analyst tells investors in a research note. Cash flow was a moderate bright spot, and a new $75M share repurchase authorization is a “welcome” announcement, the firm says.