UBS Boosts PT on Arrow Electronics (ARW) to $45 Following Q4 Results
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Price: $38.69 -2.59%
Rating Summary:
5 Buy, 1 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
5 Buy, 1 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade ARW Now!
UBS raised its price target on Buy-rated Arrow Electronics (NYSE: ARW) from $42 to $45 following strong Q4 rev/EPS, which beat the consensus by 3% and 15% respectively although Q1 guidance was more cautious than they had anticipated, especially after peer Avnet reported.
"While Y/Y trends are off the lows, recovery is still weak for the industry, though commentary from some semi suppliers is pointing to a better environment into 2Q," the analyst said. "With the ARW model sensitive to demand, and with 5 qtrs of negative Y/Y sales growth (incl 1Q13), we remain cyclically biased."
CY13/CY14 EPS estimates edge down modestly by 2-4% and we they now foresee rev/EPS at $20.5b/$4.09 and $21.8b/$4.86 vs. $20.6b/$4.17 and $21.9b/$5.05.
For an analyst ratings summary and ratings history on Arrow Electronics click here. For more ratings news on Arrow Electronics click here.
Shares of Arrow Electronics closed at $40.46 yesterday, with a 52 week range of $30.84-$43.02.
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"While Y/Y trends are off the lows, recovery is still weak for the industry, though commentary from some semi suppliers is pointing to a better environment into 2Q," the analyst said. "With the ARW model sensitive to demand, and with 5 qtrs of negative Y/Y sales growth (incl 1Q13), we remain cyclically biased."
CY13/CY14 EPS estimates edge down modestly by 2-4% and we they now foresee rev/EPS at $20.5b/$4.09 and $21.8b/$4.86 vs. $20.6b/$4.17 and $21.9b/$5.05.
For an analyst ratings summary and ratings history on Arrow Electronics click here. For more ratings news on Arrow Electronics click here.
Shares of Arrow Electronics closed at $40.46 yesterday, with a 52 week range of $30.84-$43.02.
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