Morgan Stanley analyst Erik Woodring raised the firm’s price target on Ingram Micro (INGM) to $25 from $24 and keeps an Equal Weight rating on the shares. The firm is optimistic that spending growth in most hardware end-markets should improve in 2025, adding that it is “more bullish” on enterprise than consumer end markets. However, with IT hardware valuations, ex-Apple, at an “all-time high,” growth in 2025 is already pricing in acceleration, the analyst tells investors.
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