TD Synnex price target raised to $109 from $103 at Credit Suisse

Credit Suisse analyst Shannon Cross raised the firm’s price target on TD Synnex to $109 from $103 and keeps a Neutral rating on the shares. The analyst notes that TD Synnex reported solid Q4 results with revenue of $16.25B and non-GAAP EPS of $3.44. Non-GAAP EPS included 33c related to a catch up of Hyve contribution, but was still ahead of Cross’s estimate. Overall, the company remains positive on IT spend and guided the full year up 3% to 5%, ahead of the analyst’s prior estimate of up 2%.