Needham & Company Reiterates a 'Buy' on Flextronics (FLEX); Growth (Despite Macro) & Improved Profitably On Horizon
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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 $9.00.
Needham analyst says, "Overall, looking beyond the ODM/NB wind-down, we expect FLEX to be in position to grow the remainder of its business at least in the mid-to-high single digits in coming quarters as new program ramps (in stickier and higher-margin segments such as Industrial and Medical) should provide an offset to macro softness. With small restructurings and the NB biz gone, margins should see healthy expansion from current levels for the next 2-4 quarters."
"For F3Q12, now $7.5B & $0.21, vs. prior $8.0B and $0.23 (ex. opt.). F13 now $30.5B (~7% organic annual growth ex. ODM/NB biz) & $1.09 vs. prior $31.7 & $1.01."
For more ratings news on Flextronics click here and for the rating history of Flextronics click here.
Shares of Flextronics closed at $6.11 yesterday.
Needham analyst says, "Overall, looking beyond the ODM/NB wind-down, we expect FLEX to be in position to grow the remainder of its business at least in the mid-to-high single digits in coming quarters as new program ramps (in stickier and higher-margin segments such as Industrial and Medical) should provide an offset to macro softness. With small restructurings and the NB biz gone, margins should see healthy expansion from current levels for the next 2-4 quarters."
"For F3Q12, now $7.5B & $0.21, vs. prior $8.0B and $0.23 (ex. opt.). F13 now $30.5B (~7% organic annual growth ex. ODM/NB biz) & $1.09 vs. prior $31.7 & $1.01."
For more ratings news on Flextronics click here and for the rating history of Flextronics click here.
Shares of Flextronics closed at $6.11 yesterday.
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