Why Ingram Micro Holding Corporation (INGM) Received Analyst Approval This Week?

We recently published a list of 10 Stocks That Received Analyst Approval This Week. In this article, we are going to take a look at where Ingram Micro Holding Corporation (NYSE:INGM) stands against other stocks that received analyst approval this week.

The US market performance in the last week was quite bullish, with the S&P, DOW, and NASDAQ boasting weekly gains of 3.71%, 3.73%, and 3.84% respectively. The week marked the last full week of the outgoing Democratic government, with Donald Trump set to be sworn in early next week.

Just like the last time he became President, Donald Trump is set to make some drastic changes once he takes over. His energy policy and stance on crypto will continue to be of focus for most traders. During the outgoing week, a lot of companies received the backing of Wall Street analysts, among them quite a few energy and automobile companies.

We looked at a few of those companies that received a boost from analysts this week. To come up with the list of 10 stocks that received analyst approval this week, we only considered companies with a market cap of at least $1 billion.

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Ingram Micro Holding Corporation (NYSE:INGM)

Ingram Micro Holding Corporation is a technology distributor and supply chain services provider worldwide. The company was upgraded from Equal-weight to Overweight by Morgan Stanley. Target price was upgraded from $25 to $27.

This upgrade was the result of improved market conditions for small and medium businesses and an attractive valuation of the company’s stock. 95% of customers of INGM are small to medium-sized businesses. Moreover, the company’s IT spending is expected to rise by 5% in 2025. This will boost growth in areas of PCs, servers, PC peripherals, and storage.

INGM exceeded estimates in its third-quarter earnings. Expected earnings for the fourth quarter are $0.90 per share and revenue of $13.21 billion. The company’s stock prices have recorded consistent gains in the past 5 trading days. The positivity is likely to continue in the future and suggests an encouraging outlook for investors.

Overall, INGM ranks 8th on our list of received analyst approval this week. While we acknowledge the potential of INGM as a leading AI investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as INGM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

Disclosure: None. This article is originally published at Insider Monkey.