Sterne Agee maintains a 'Buy' on Ingram Micro (NYSE: IM) price target of $24.00.
Analyst, Shaw Wu, said, "We view this acquisition positively as it makes a lot of strategic sense. Brightpoint (Nasdaq: CELL) beefs up IM's presence in the fast-growing mobile devices space and will be margin accretive. We find IM shares attractive trading at a 20% discount to its tangible book value of $22."
The acquisition deal is expected to be accretive to IM's FY13 (by $0.18) and FY14 (by $0.35), however Wu is maintaining his estimates on IM.
For an analyst ratings summary and ratings history on Ingram Micro click here. For more ratings news on Ingram Micro click here.
Shares of Ingram Micro closed at $17.47 yesterday, with a 52 week range of $15.45-$19.80.
Analyst, Shaw Wu, said, "We view this acquisition positively as it makes a lot of strategic sense. Brightpoint (Nasdaq: CELL) beefs up IM's presence in the fast-growing mobile devices space and will be margin accretive. We find IM shares attractive trading at a 20% discount to its tangible book value of $22."
The acquisition deal is expected to be accretive to IM's FY13 (by $0.18) and FY14 (by $0.35), however Wu is maintaining his estimates on IM.
For an analyst ratings summary and ratings history on Ingram Micro click here. For more ratings news on Ingram Micro click here.
Shares of Ingram Micro closed at $17.47 yesterday, with a 52 week range of $15.45-$19.80.
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