These Analysts Boost Their Forecasts On TD Synnex After Upbeat Q2 Results - TD Synnex (NYSE:SNX)

TD SYNNEX Corp. (NYSE:SNX) on Thursday reported upbeat fiscal second-quarter results.Revenue increased 31% year over year to $19.58 billion, exceeding the analyst consensus estimate of $16.80 billion.GAAP diluted earnings per share rose to $4.15 from $2.21 a year earlier. Non-GAAP diluted EPS increased 62.2% to $4.85, topping analysts’ estimate of $4.14.For the fiscal third quarter, TD SYNNEX expects revenue of $18.2 billion to $19.0 billion, above the analyst consensus estimate of $16.83 billion.The company forecasts non-GAAP gross billings of $27.2 billion to $28.2 billion, GAAP diluted EPS of $3.40 to $3.90, above the $3.04 estimate, and non-GAAP diluted EPS of $4.25 to $4.75, exceeding the consensus estimate of $4.03.TD SYNNEX shares fell 2.4% to trade at $271.04 on Friday.These analysts made changes to their price targets on TD SYNNEX following earnings announcement.

Morgan Stanley analyst Erik Woodring maintained the stock with an Overweight rating and raised the price target from $341 to $374.

Barrington Research analyst Vincent Colicchio maintained the stock with an Outperform rating and raised the price target from $202 to $325.