Needham & Company Reiterates a 'Buy' on Flextronics (FLEX); Posts Generally In-Line F1Q; Lowered Outlook Better Than Feared
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Price: $126.16 +1.50%
Rating Summary:
18 Buy, 8 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
18 Buy, 8 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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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.
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