Goldman Sachs Upgrades Flextronics (FLEX) to Buy, Better Margins Not Reflected in Stock

August 7, 2012 9:10 AM EDT
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Price: $14.57 --0%

Rating Summary:
    12 Buy, 5 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 14 | Down: 24 | New: 12
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Goldman Sachs upgraded Flextronics (NASDAQ: FLEX) from Neutral to Buy with a price target of $8.00 (from $6.00), saying improving margins not reflected in the stock.

The firm raise FY13/FY14 EPS estimates to $1.00/$1.24 from $0.93/$1.09 to reflect better margins and a lower share count. In addition, the firm highlights the company's attractive FCF yield of 13% and expect the company to remain very active in repurchasing stock.

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 $6.34 yesterday.

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