Goldman Sachs Initiates Coverage on TD SYNNEX with 10% FY26 Billings Growth Forecast

Goldman Sachs has formally initiated coverage on TD SYNNEX (SNX), assigning the stock a 'Buy' rating and forecasting 10% growth in fiscal year 2026 billings. This marks a significant development for the mid-cap technology distributor, which plays a pivotal role in the global IT supply chain. The firm's analysis highlights strong demand trends across enterprise hardware, cloud infrastructure, and semiconductor-related products as key drivers behind the projected expansion. The 10% billings growth forecast for FY26 reflects elevated expectations for TD SYNNEX’s execution capabilities, channel partnerships, and market positioning. With fiscal year 2026 set to conclude in March 2026, the projection implies solid momentum through the remainder of the current business cycle. The figure is notably robust for a company of SNX’s scale, especially within the competitive landscape of tech distribution where margins and volume growth are closely scrutinized. The initiation by Goldman Sachs, a top-tier investment bank, is likely to influence investor sentiment and trading activity. Institutional investors may reassess their exposure to SNX as the firm’s research adds credibility to the company’s growth trajectory. Given TD SYNNEX’s role in distributing products from major semiconductor and hardware vendors, the positive outlook also signals broader confidence in the technology supply chain’s resilience. Market participants across the IT services, semiconductor, and technology distribution sectors are expected to monitor SNX’s performance closely. The stock’s reaction to the initiation could indicate shifting capital flows toward mid-cap tech players with exposure to enterprise demand and digital transformation trends.