On September 25, Synnex rose 5.02% in regular trading, trading at $275.515/share, with turnover of $21.48 million. The rebound followed a sharp selloff the prior session and was catalyzed by UBS raising its price target on the stock.

UBS adjusted its price target on Synnex to $379 from $352 while maintaining a Buy rating. The upgrade came one day after the company reported fiscal Q3 results that significantly exceeded expectations. Adjusted EPS came in at $5.68, up 58.7% year-over-year and 20.9% above the consensus estimate of $4.70. Revenue reached $21.56 billion, representing 37.8% year-over-year growth and topping the $18.91 billion consensus by 14%. The company also issued a strong Q4 outlook, guiding for non-GAAP EPS of $5.65 to $6.15 and revenue of $21.8 billion to $22.6 billion, both well above analyst expectations of $4.87 and $19.44 billion, respectively.

Despite these results, the stock fell approximately 10% on September 24 as investors locked in profits following a 5.45% pre-earnings rally. The investment bank upgrade provided a catalyst for a technical rebound, with the average analyst target now standing at $339.64.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)