TD Synnex: Focusing On Strategic Tech, Trading At Only 10x FCF, Initiate At Buy

  • I am initiating TD Synnex Corporation with a Buy rating and a fair value of $212, citing its attractive valuation and strategic shift. TD Synnex's focus on advanced solutions—cloud, security, data analytics, and AI—positions it well for enterprise and hyperscaler growth. Despite competitive pressures and reliance on major OEMs, I expect steady revenue growth and flat margins, supported by strong Q2 results.