Brean Murray Carret & Co. Reiterates Buy Rating on Synnex Corp. (SNX)

Brean Murray Carret & Co. is out with a research report this morning, where it reiterates its Buy rating on Synnex Corp. GRS. The BMC analysts cited the company's recent earnings results, which were slightly above estimates. Despite the Japanese earthquake impact, Synnex continues to expect MIT to generate ~$1.1 billion run rate business in CY11 and be accretive for 2011. The analysts noted that they find it encouraging that management saw a quick recovery in its Japanese sales pipeline, and that its bookings and supply chain impact remains minimal so far. The analysts remarked, “We remain hopeful that GRS is nearing a turning point and that the heavy investments made to date will start to pay dividends.”