1106 ET - Ingram Micro's sales stemming from client and endpoint solutions should grow by low-single digits over the next few years as the PC market recovers, say BofA Securities analysts in a research note. The technology distributor's advanced solutions segment revenue should also benefit from a rebound in networking after a period of inventory digestion and higher server demand, they add. The analysts note certain risks include the global macroeconomic environment remaining weak and the PC recovery being pushed out into 2025 and beyond. "Further, the market is competitive and Ingram may have to lower prices or extend payment terms to maintain or increase share," they add. The analysts initiate coverage of Ingram with a buy rating and a $30 price objective. Ingram is up 1.1% to $23.01. (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
November 18, 2024 11:07 ET (16:07 GMT)
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