Barrington has increased its price target for TD SYNNEX (SNX) to $202, reaffirming its 'Outperform' rating. This adjustment reflects a strong first-quarter showing and optimistic future earnings forecasts. The company's solid performance across its distribution and Hyve segments underscores its market strength and potential for sustained financial health.
On April 1, 2026, Barrington revised its price target for TD SYNNEX Corporation (NYSE:SNX) upward from $182 to $202. The firm cited an exceptionally strong first quarter, highlighting widespread strength across the company's operations. This positive assessment led to an increase in fiscal year 2026 and 2027 earnings estimates, following the impressive Q1 report.
Concurrently, BofA also elevated its price target for TD SYNNEX Corporation (NYSE:SNX) to $200 from $180, maintaining a 'Buy' rating. This move came after TD SYNNEX reported what BofA described as a "strong beat" in its first-quarter earnings, with guidance for the second quarter surpassing Wall Street expectations. BofA expressed cautious optimism for the latter half of the year, while acknowledging potential risks such as pricing pressures, broader macroeconomic conditions, and geopolitical instability.
TD SYNNEX Corporation (NYSE:SNX) disclosed its Q1 non-GAAP EPS on March 31, 2026, reporting $4.73, significantly exceeding the consensus estimate of $3.31. Revenue for the quarter reached $17.2 billion, compared to the $15.65 billion consensus. CEO Patrick Zammit attributed these record gross billings and earnings to robust performance in both the company's distribution and Hyve businesses.
Looking ahead, the company provided Q2 non-GAAP EPS guidance ranging from $3.75 to $4.25, surpassing the $3.45 consensus. Revenue projections for Q2 are set between $16.1 billion and $16.9 billion, against a consensus of $15.84 billion. Non-GAAP gross billings are anticipated to be between $24.6 billion and $25.6 billion, further signaling a positive outlook for the company's near-term financial performance.
This revised target from Barrington indicates a strong belief in TD SYNNEX's capacity for continued growth and its solid operational foundation. The positive outlook from leading financial institutions reinforces the company's position as a robust player in the IT distribution and solutions sector globally, despite potential market challenges.