TD Synnex

SNX · NYSE

$248.21−$0.36 (−0.14%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $248.57

SNX analyst rating

BuyConsensus of 8 analysts over the last 12 months. 75% rate it a buy.

Strong buy0
Buy6
Hold2
Underperform0
Sell0

12-month price target · 14 analysts

Average $347.21 (+39.9% upside)

Low: $289.87
Now: $248.21
High: $397.95

Upgrades and downgrades

The latest rating actions, newest first

SNX analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
UBS	Sep 25, 2026	Maintains	Buy	$352.00 → $379.00	65%
Morgan Stanley	Sep 25, 2026	Maintains	Overweight	$334.00 → $359.00	63%
Morgan Stanley	Sep 15, 2026	Maintains	Overweight	$374.00 → $334.00	63%
Barclays	Sep 8, 2026	Maintains	Equal-Weight	$278.00 → $287.00	62%
Barclays	Jul 2, 2026	Maintains	Equal-Weight	$237.00 → $278.00	62%
UBS	Jun 26, 2026	Maintains	Buy	$310.00 → $352.00	65%
Barrington Research	Jun 26, 2026	Maintains	Outperform	$202.00 → $325.00	50%
Morgan Stanley	Jun 26, 2026	Maintains	Overweight	$341.00 → $374.00	63%
Morgan Stanley	Jun 23, 2026	Maintains	Overweight	$271.00 → $341.00	63%
Barrington Research	Jun 16, 2026	Maintains	Outperform	$202.00	50%

The case for and against

Updated Oct 14, 2026

Bull case

TD Synnex is benefiting from broad-based demand across endpoints, advanced solutions, and especially Hyve, with fiscal Q2/26 non-GAAP gross billings of $28.9 billion, revenue of $19.6 billion, and EPS of $4.86 all beating expectations. Management’s continued comment that there are no signs of demand destruction despite price increases, plus strong geographic growth in the Americas, Europe, and APJ, supports confidence that higher pricing and inventory purchases are translating into share gains rather than volume loss. The outlook is further strengthened by Hyve’s expanding hyperscaler programs, improving margin profile, and leverage that helped push adjusted EBITDA to $644.6 million, while fiscal Q3/26 guidance points to another year-over-year step-up in revenue and EPS.

Bear case

TD Synnex is expected to deliver fiscal Q2/26 adjusted EBITDA of $542.6 million and non-GAAP EPS of $4.00, both below FactSet consensus, signaling weaker-than-expected operating performance despite projected year-over-year gains. The negative outlook reflects a business that remains exposed to quarter-to-quarter lumpiness from supply chain activity, ASC 606 accounting noise, component shortages, and price fluctuations, which reduce earnings predictability. Further pressure comes from a deteriorating PC end-market, slower-than-expected Networking recovery, and macro weakness, all of which could limit margin expansion even as adjusted EBITDA margin is forecast to rise only modestly from 3.0% to 3.1% in fiscal Q2/26.

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