Ingram Micro (INGM) is likely to post a fiscal Q1 beat due to PC strength from pull-forward demand, with longer-term margin expansion expected from its Xvantage platform and AI-related opportunities, RBC Capital Markets said.

The brokerage said in a Monday research report that it estimates fiscal Q1 revenue growth of 4.6% to $12.84 billion, gross profit of $873 million and adjusted EPS of $0.76, above the consensus of $0.72.

It sees demand supported by large enterprise clients and outsized growth in the Asia-Pacific region and highlights long-term opportunity in GPU and AI infrastructure deals.

The company is positioned to drive margin expansion driven by Xvantage Phase 3, which utilizes data to drive organic growth without incremental operating expenditures, expected to improve revenue quality.

RBC models fiscal 2026 revenue of $54.04 billion and adjusted EPS of $3.32, compared with consensus of $53.71 billion and $3.24, respectively.

The firm reiterated its outperform rating on the stock and raised its price target to $33 per share from $24.

Shares of Ingram were up more than 3% in Tuesday trading.

Price: 31.27, Change: +0.96, Percent Change: +3.17