RBC Capital analyst Amit Daryanani reiterated a Buy rating on CDW Corp (NASDAQ: CDW) yesterday and set a price target of $64. The company’s shares closed yesterday at $56.50.
According to TipRanks.com, Daryanani is a top 25 analyst with an average return of 27.4% and a 87.7% success rate. Daryanani covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Benchmark Electronics, and Applied Materials.
Currently, the analyst consensus on CDW Corp is Strong Buy and the average price target is $66, representing a 16.8% upside.
In a report issued on May 9, Robert W. Baird also upgraded the stock to Buy with a $71 price target.
Based on CDW Corp’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $3.32 billion and quarterly net profit of $57.6 million. In comparison, last year the company earned revenue of $3.12 billion and had a net profit of $77.8 million.
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CDW Corp. engages in the provision of information technology solutions. It operates through the Corporate and Public segments. The Corporate segment comprises of private sector business customers. The Public segment involves government agencies, education, and healthcare institutions. The company was founded in 1984 by Michael P. Krasny and is headquartered in Lincolnshire, IL.