Market Overview

UPDATE: Bank Of America Reiterates On Ingram Micro Following Strong F2Q Results

Related IM
Bill Ackman Boosts Jarden; Nautilus Wins Big In After-Hours Trading
Barclays Downgrades Hewlett-Packard And Ingram Micro
Tracking Alex Roepers' Atlantic Investment Management Portfolio - Q1 2015 Update (Seeking Alpha)

In a report published Friday, Bank of America analyst Scott D. Craig reiterated a Buy rating on Ingram Micro (NYSE: IM), and raised the price target from $36.00 to $37.00.

In the report, Bank of America noted, “F2Q14 sales were better than us/Street due to a strong PC refresh/mobility, and EPS of $0.54 came in ahead of Street (in line with us). Ingram has continued to do a solid job of turning around underperforming operations and flat opex Q/Q on higher revenue is a positive. We expect to see margin expansion into 2015, on further restructuring ($80-100mn annual savings 2014-end). Reiterate our Buy rating.”

Ingram Micro closed on Thursday at $30.29.

Latest Ratings for IM

May 2015Stifel NicolausMaintainsBuy
Mar 2015BarclaysDowngradesOverweightEqual-weight
Feb 2015BarclaysMaintainsOverweight

View More Analyst Ratings for IM
View the Latest Analyst Ratings

Posted-In: Bank of America Scott D. CraigAnalyst Color Price Target Analyst Ratings


Related Articles (IM)

Around the Web, We're Loving...