UPDATE: BMC Lowers PT on Synnex to $40

BMC is out with its reporty today on Synnex SNX, lowering its PT from $43 to $40. In a note to clients, BMC writes, "Aug Q guidance was softer than consensus, with revenue of $2.54B-$2.64B and EPS of $0.88-$0.92 vs. Street of $2.65B and $0.94 due to ongoing soft consumer IT demand (most likely already discounted in the recent stock softness) and soft operating margin in 2H11. We're lowering our TP from $43 to $40. Our $40 TP is 10x what we believe to be conservative 2012 earnings power of ~$4.00 (or just 10% EPS growth, vs. SNX's five-year average of 21%, including the 2009 recession year of 9% EPS growth)." Shares of SNX closed Tuesday at $31.46, up 2.08% from Monday's close.