TD Synnex to deliver mid-high single digit billings growth, says RBC Capital

RBC Capital keeps an Outperform rating and $140 price target on TD Synnex (SNX) while noting that the company should deliver mid-to-high single digit billings growth in 2025. The firm expects the growth to be driven by an improving IT demand environment, solid demand from hyperscalers, improving commercial PC demand, and inflection in networking, the analyst tells investors in a research note. RBC adds that it expects stable gross margins and modest operating margin expansion out of TD Synnex in 2025.