Needham & Company Reiterates a 'Buy' on Flextronics (FLEX); Posts Generally In-Line F1Q; Lowered Outlook Better Than Feared
Tweet
Share
E-mailGet Alerts FLEX Hot Sheet
Price: $28.20 +0.43%
Rating Summary:
14 Buy, 7 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 14 | New: 51
Rating Summary:
14 Buy, 7 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 14 | New: 51
Join SI Premium – FREE
Needham & Company reiterates a 'Buy' on Flextronics (NASDAQ: FLEX) price target of $9.
Needham analyst says, "While the broader macro environment may be showing (perhaps temporary) signs of softness, FLEX's book of business is exhibiting resiliency through its recent new program momentum, global footprint and general diversification. Leveraging these variables and anticipated margin improvement (once its ODM business winds down, largely in F4Q), we expect earnings to grow double digits throughout our forecast model."
"For F2Q, our estimates become $7.8B and $0.22, vs. our previous forecast of $7.8B and $0.25 (ex. opt.). Our F12 estimates now $31.4B and $0.98 vs. prior $31.4B and $1.00."
For more ratings news on Flextronics click here and for the rating history of Flextronics click here.
Shares of Flextronics closed at $6.41 yesterday.
Needham analyst says, "While the broader macro environment may be showing (perhaps temporary) signs of softness, FLEX's book of business is exhibiting resiliency through its recent new program momentum, global footprint and general diversification. Leveraging these variables and anticipated margin improvement (once its ODM business winds down, largely in F4Q), we expect earnings to grow double digits throughout our forecast model."
"For F2Q, our estimates become $7.8B and $0.22, vs. our previous forecast of $7.8B and $0.25 (ex. opt.). Our F12 estimates now $31.4B and $0.98 vs. prior $31.4B and $1.00."
For more ratings news on Flextronics click here and for the rating history of Flextronics click here.
Shares of Flextronics closed at $6.41 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Johnson & Johnson (JNJ) PT Lowered to $155 at Stifel
- Bank of New York Mellon (BK) PT Raised to $63 at CFRA
- Hexcel Corp. (HXL) PT Lowered to $86 at Stifel
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Needham & Company, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
