BofA/Merrill Lynch raised its price objective on Flextronics (NASDAQ: FLEX) to $19.50 (from $17.50) while maintaining a Buy rating, following the company's analyst day.

Analyst Ruplu Bhattacharya notes a positive outlook on the company following last week's analyst day, as the company benefits from continued 10%+ y/y growth in IEI and HRS segments, while experiencing improving margins for CTG and potential growth in CEC revenue.