Goldman Raising Estimates On SYNNEX After Strong Earnings (SNX)

Goldman Sachs is raising earnings estimates on SYNNEX Corporation SNX, after the company reported better than expected earnings. It has a $29 price target, up from $27, and a Neutral rating on shares. In the research report, Goldman writes, "Our rating on SNX remains Neutral, as we see greater upside in our Buy- rated names under coverage. That said, we expect the company's strong quarter and outlook to lead to some near-term catch-up performance in the stock, which has lagged the Nasdaq by 20% points year to date." Shares of SYNNEX lost 2 cents yesterday to close at $25.90.