Sterne Agee Maintains Neutral on Synnex
Sterne Agee is out with its report today on Synnex (NYSE: SNX), maintaining Neutral.
In its report, Sterne Agee writes, "While we believe in the strong fundamentals of SNX and see upside potential to $28 based on a 7x forward multiple, a 7% return isn't enough to justify a Buy rating, and we see potential downside risk should the equity tape become less favorable and/or investors have less conviction in a sustainable IT market recovery."
At the time of posting, shares of SNX were trading at $27.84, up 11.76% from Tuesday's close.
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