Bank of America Initiates Coverage on Ingram Micro (NYSE:INGM)

Stock analysts at Bank of America assumed coverage on shares of Ingram Micro (NYSE:INGM) in a report issued on Monday, MarketBeat.com reports. The firm set a “buy” rating and a $30.00 price target on the stock. Bank of America‘s price target would suggest a potential upside of 31.87% from the company’s current price.

Several other brokerages have also recently commented on INGM. Northcoast Research started coverage on Ingram Micro in a research report on Friday, November 8th. They issued a “neutral” rating for the company. Raymond James assumed coverage on Ingram Micro in a research report on Monday. They set an “outperform” rating and a $28.00 target price for the company. Finally, Evercore ISI initiated coverage on Ingram Micro in a research note on Monday. They issued an “inline” rating and a $27.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $27.45.

Ingram Micro Stock Down 3.1 %

NYSE:INGM opened at $22.75 on Monday. Ingram Micro has a 12-month low of $22.25 and a 12-month high of $25.69.

Ingram Micro (NYSE:INGM) last announced its earnings results on Tuesday, November 12th. The company reported $0.72 EPS for the quarter. The firm had revenue of $11.76 billion for the quarter.

About Ingram Micro

Ingram Micro is a leading solutions provider by revenue for the global information technology (“IT”) ecosystem helping power the world’s leading technology brands. With our vast infrastructure and focus on client and endpoint solutions (formerly referred to as commercial & consumer, as described elsewhere in this prospectus), advanced solutions offerings and cloud-based solutions, we enable our business partners to scale and operate more efficiently in the markets they serve.