Brean Capital Increases Tech Data Corp Price Target to $73.00 (TECD)
Stock analysts at Brean Capital boosted their target price on shares of Tech Data Corp (NASDAQ:TECD) from $70.00 to $73.00 in a report issued on Wednesday. The firm currently has a “buy” rating on the stock. Brean Capital’s price objective indicates a potential upside of 9.99% from the stock’s previous close.
Shares of Tech Data Corp (NASDAQ:TECD) opened at 66.37 on Wednesday. Tech Data Corp has a one year low of $48.35 and a one year high of $71.31. The stock’s 50-day moving average is $63.80 and its 200-day moving average is $61.30. The company has a market cap of $2.538 billion and a price-to-earnings ratio of 14.45.
Tech Data Corp (NASDAQ:TECD) last issued its quarterly earnings data on Tuesday, August 26th. The company reported $1.12 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.77 by $0.35. The company had revenue of $6.84 billion for the quarter. During the same quarter last year, the company posted $0.73 earnings per share. Tech Data Corp’s revenue was up 8.1% compared to the same quarter last year. Analysts expect that Tech Data Corp will post $4.82 EPS for the current fiscal year.
TECD has been the subject of a number of other recent research reports. Analysts at Goldman Sachs raised their price target on shares of Tech Data Corp to $59.00 in a research note on Tuesday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Tech Data Corp in a research note on Friday, August 22nd. They now have a $70.00 price target on the stock. Finally, analysts at Bank of America upgraded shares of Tech Data Corp from an “underperform” rating to a “neutral” rating in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. Tech Data Corp presently has a consensus rating of “Hold” and a consensus price target of $67.33.
Tech Data Corporation (NASDAQ:TECD) is a wholesale distributor of technology products.
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