On June 25, TD Synnex rose 5.22% in pre-market trading, trading at $297.0/share, with turnover of $150,400. The stock rallied on the back of its pre-market earnings release and Morgan Stanley's significant target price increase announced two days earlier.

TD Synnex released its fiscal Q2 earnings report pre-market, with market expectations of 17.40% year-over-year revenue growth and adjusted EPS of $3.92. The company enters this report with strong momentum after last quarter's massive beat — revenue of $17.161 billion (up 18.10% YoY) and adjusted EPS of $4.73, far exceeding the $3.31 consensus estimate.

On June 23, Morgan Stanley raised its price target on TD Synnex by 26% from $271 to $341, maintaining an Overweight rating. The firm noted that AI on-premises deployment is driving enterprise server demand beyond expectations, and the company's Hyve contract manufacturing subsidiary — which contributes 27% of operating income — still trades at approximately a 25% discount to peers despite superior margin and growth profiles.

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