Stock Track | TD SYNNEX Soars 5.63% Intraday on Strong Q1 Earnings and Multiple Analyst Upgrades

Stock Track04-01

TD SYNNEX Corporation's stock surged 5.63% during intraday trading on Wednesday, following the release of its robust fiscal first-quarter 2026 results and subsequent analyst endorsements.

The company reported record non-GAAP gross billings with normalized EPS of USD 4.73 on revenue of USD 17,161.2 million. Basic EPS more than doubled year-over-year to US$4.09, up from US$1.98 in Q1 2025, driven by strength in infrastructure software, security, and expanding gross margins. Management highlighted strong performance in its Hyve business, fueled by demand for cloud and AI-enabled data center infrastructure.

This positive earnings report triggered a wave of analyst upgrades. RBC Capital maintained a Buy rating and raised its price target to $210, while Morgan Stanley increased its target to $218 from $174. Raymond James, JP Morgan, and Barclays also raised their respective price targets, reflecting growing confidence in the company's margin expansion and growth trajectory in higher-value IT solutions.

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