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TD Synnex Corp (NYSE:SNX)’s stock has reached a new milestone, achieving an all-time high of $149.85. According to InvestingPro data, analysts maintain a bullish outlook with a consensus "Buy" rating and price targets ranging from $140 to $170. This noteworthy achievement underscores a significant upward trend for the company over the past year. The stock has experienced a robust 31.11% increase in its value, reflecting strong investor confidence and positive market sentiment. The company’s financial health score is rated as "GOOD" by InvestingPro, supported by a healthy P/E ratio of 17.4x and consistent dividend payments for 12 consecutive years. This surge in stock price marks a pivotal moment for TD Synnex Corp, as it continues to navigate and capitalize on growth opportunities within its sector. The company demonstrates solid fundamentals with $60 billion in revenue and maintains a strong market position as a prominent player in the Electronic Equipment industry. For deeper insights into TD Synnex’s valuation and growth prospects, investors can access the comprehensive Pro Research Report available on InvestingPro, which includes 13 additional exclusive ProTips.
In other recent news, TD Synnex reported strong financial results for the second quarter of fiscal year 2025, surpassing analysts’ expectations. The company achieved non-GAAP diluted earnings per share of $2.99, exceeding the forecasted $2.71 by 10.33%, and revenue reached $14.95 billion, beating the anticipated $14.3 billion. This performance was highlighted by double-digit billings growth across its business segments, with Advanced Solutions billings increasing by 12% and Endpoint billings rising by 13%. Following the earnings report, UBS reiterated its buy rating and increased its price target from $138.00 to $154.00.
Additionally, Loop Capital raised its price target for TD Synnex to $160 from $150, maintaining a Buy rating after the company demonstrated a 7% year-over-year revenue growth and a 10% year-over-year EPS growth in the May quarter. In a strategic move, TD Synnex acquired Apptium to enhance its cloud commerce capabilities. This acquisition aims to strengthen the company’s technology solutions orchestration strategy and expand its cloud and everything-as-a-service offerings. Apptium has been a key partner in developing TD Synnex’s StreamOne platform, which supports the company’s digital business orchestration strategy.
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