TD Synnex (SNX) is poised for better-than-expected growth in Q4 billings, RBC Capital said in a note Friday.

The company accelerated to 15% year-over-year billings growth, driven by sustained AI PCs and Windows 11 upgrades with no slowdown or effects from higher memory prices.

"4Q25 billings growth accelerated to 15% [year-over-year], driven by sustained PC demand with no notable demand destruction or pull-forward effects from higher memory prices," the note said.

The company's subsidiary Hyve Solutions' billings accelerated 39%, driven by advanced services and contract manufacturing.

"Looking ahead, we expect continued growth in PCs, strategic technologies and increasing hyperscaler demand for server and networking," the note said.

RBC reiterated its outperform rating on the stock, with a $180 price target.

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