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Opinions Stephanie Link, Chief investment strategist, Hightower
CDW Computer CentersCDWCBUYSep 01, 2023
N/A
Stock price when the opinion was issued
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Stockchase Research Editor: Michael O'Reilly
CDW provides IT solutions to companies, government, healthcare and education groups in US, the UK, and Canada. It recently acquired a AI consulting specialist that will grow their ability for a one-stop solution for companies to maximize its IT investment. It trades at 17x earnings and supports a robust 44% ROE. It has prudently reduced some cash reserves to aggressively buy back shares. We recommend setting a stop-loss at $121, looking to achieve $163 -- upside potential of 18%. Yield 1.8%
(Analysts’ price target is $158.67)
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She bought more CDW on the Dell news today, because PCs were a $1 billion more than they expected and PCW has 30% exposure in PCs. They ahve a great business mix, changing to software and services which boast higher margins. Last quarter, it sounded like PCs were bottoming, so this is set up nicely.