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TD SYNNEX’s Upcoming Q2 Earnings Preview
Jun 9, 2023 12:32 PM - Davit Kirakosyan(Last modified: Dec 19, 2023 5:49 PM)
Image credit: FMP
RBC Capital analysts provided their outlook on TD SYNNEX (NYSE:SNX) ahead of the company’s upcoming Q2 earnings report next month.
The analysts expect largely in-line Q2/23 results as cautious IT spending trends continue. They see solid Advanced Solutions dynamics continuing in the near term as management focuses on pivoting to areas of higher growth in advanced solutions and high-growth technologies (e.g., cybersecurity/analytics/cloud/IoT/digital transformation).
The analysts continue to expect the overall backlog for Advanced Solutions (approximately 35-40% of revenue) to further stabilize in the second half of the year while the spending outlook for PCs remains challenged in the near term but benefits from easier comps in the second half of the year. The analysts reiterated their Sector Perform rating and $110 price target on the stock.
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