Synnex's stock surged 5.22% in pre-market trading on Thursday, driven by the release of its quarterly earnings report and a significant analyst price target increase.

The company released its fiscal second-quarter earnings pre-market, entering the report with strong momentum following a substantial beat in the previous quarter. Separately, Morgan Stanley raised its price target on TD Synnex by 26% from $271 to $341 two days prior, maintaining an Overweight rating. The firm cited that AI on-premises deployment is driving enterprise server demand beyond expectations, and noted that the company's Hyve contract manufacturing subsidiary—which contributes 27% of operating income—still trades at an approximate 25% discount to peers despite superior margin and growth profiles.