Goldman Sachs Maintains Neutral Rating On SYNNEX

According to Goldman Sachs, SYNNEX (NYSE: SNX) reported organic revenue growth of 11% yoy in the May quarter as strong demand in the commercial market was partially offset by weaker trends in retail (consumer).

Goldman Sachs said that Synnex saw strength in the SMB market and surprisingly in its state and local government business as well. “We are maintaining our Neutral rating on SNX. We think weakness in Japan is likely to delay some of the synergies the company expected from the MIT acquisition in the near term.”

SYNNEX closed yesterday at $31.46.