Brean Murray Likes Synnex (SNX)

Brean Murray Carret & Co. likes shares of SYNNEX Corporation SNX, as it has a Buy rating and a $38 price target on shares. In the research report, Brean Murray writes, "Synnex posted another strong Q, delivering revenue and EPS of $2.17 billion and $0.86 vs. Street consensus of $2.11 billion and $0.74. Nov Q guidance was solid, with revenue of $2.30-2.40 billion and EPS of $0.94-0.97 compared to Street consensus of $2.32 billion and $0.88. We have raised our Nov Q estimates to $2.3 billion and $0.96 from $2.2 billion and $0.87, and project CY11 to be $8.9 billion and $3.48. Consistent with our thesis, we believe Synnex can continue to prudently guide (so in line with typical seasonal demand) while continuing to expand operating margins in 2011 and exceeding Street EPS estimates." Shares of SYNNEX lost 2 cents yesterday to close at $25.90 yesterday.