TD Synnex price target raised to $118 from $111 at Barclays

Barclays raised the firm’s price target on TD Synnex to $118 from $111 and keeps an Equal Weight rating on the shares. The company reported largely in-line fiscal Q1 results and the new $2B share repurchase authorization is a modest positive, the analyst tells investors in a research note. The firm says TD Synnex’s margins outperformed again although revenue continues to be impacted by Advanced Solutions weakness and Hyve consignment shift.