Needham & Company Reiterates a 'Buy' on Flextronics (FLEX); Confirming N-T Softness
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Price: $7.65 --0%
Rating Summary:
5 Buy, 6 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 21
Rating Summary:
5 Buy, 6 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 21
Trade FLEX Now!
Needham & Company reiterates a 'Buy' on Flextronics (NASDAQ: FLEX) price target of $8.00 (from $9.00).
Analyst, Sean K. F. Hannan, said, "Similar to peers, FLEX is dealing with uncertainty and revenue challenges in its traditional enterprise-related and industrial markets. However, with a customer base diversifying toward healthier mix in concert with a number of cost/margin-enhancing actions, we still expect double-digit earnings growth this FY (even with RIMM transitioning away)...F2Q13 now $6.1B & $0.23 vs. prior $6.53B & $0.25 (ex. opt). F13 now $24.6B & $0.96 vs. prior $26.2B & $1.04."
For an analyst ratings summary and ratings history on Flextronics click here. For more ratings news on Flextronics click here.
Shares of Flextronics closed at $6.25 yesterday, with a 52 week range of $5.05-$7.49.
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Analyst, Sean K. F. Hannan, said, "Similar to peers, FLEX is dealing with uncertainty and revenue challenges in its traditional enterprise-related and industrial markets. However, with a customer base diversifying toward healthier mix in concert with a number of cost/margin-enhancing actions, we still expect double-digit earnings growth this FY (even with RIMM transitioning away)...F2Q13 now $6.1B & $0.23 vs. prior $6.53B & $0.25 (ex. opt). F13 now $24.6B & $0.96 vs. prior $26.2B & $1.04."
For an analyst ratings summary and ratings history on Flextronics click here. For more ratings news on Flextronics click here.
Shares of Flextronics closed at $6.25 yesterday, with a 52 week range of $5.05-$7.49.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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