UBS Maintains a 'Buy' on Flextronics (FLEX); Struggling to Hit Its Stride

UBS maintains a 'Buy' on Flextronics (NASDAQ: FLEX), PT from $9.50 to $10.
UBS analyst says, "Another volatile qtr: Revs/EPS of $6.9b/$0.21 miss UBSe/Consensus...We adjust our FY12/FY13 ests with Rev/EPS now $31.0b/$0.92 and $33.0b/$1.03 vs. $30.9b/$0.97 and $33.4b/$1.08 prev. The Board authorized another $200m share buy-back plan, and the balance sheet improved further with net debt of $472m down from $632m last qtr though up from $329m a year-ago."

For more ratings news on Flextronics click here and for the rating history of Flextronics click here.

Shares of Flextronics closed at $7.51 yesterday.

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