TD Synnex price target raised to $165 from $140 at RBC Capital

RBC Capital transferred its coverage of TD Synnex (SNX) to analyst David Paige who raised the firm’s price target to $165 from $140 and keeps an Outperform rating on the shares ahead of its Q4 results. The company should deliver mid-single-digit billings growth in 2025, driven by an improving IT demand environment, solid demand from hyperscalers, improving commercial PC demand, and upcycle networking spend, the analyst tells investors in a research note.