Goldman Sachs Maintains Buy on Ingram Micro (IM)

Goldman Sachs is out with its report today on Ingram Micro (NYSE: IM), maintaining Buy.

In a note to clients, Goldman Sachs writes, "There is no change to our Buy rating on Ingram, although we think the stock could be range bound in the near term until visibility around the ERP implementation improves and confidence builds on Ingram's opex management. In the meantime, Ingram's more active stance on buybacks should provide support for the shares."

Goldman Sachs maintains a $23 PT on IM.

Shares of IM closed Wednesday at $18.88, up 0.11% from Tuesday's close.