Flextronics International Receives Buy Rating from Stifel Nicolaus (FLEX)
Flextronics International (NASDAQ:FLEX)‘s stock had its “buy” rating reaffirmed by equities researchers at Stifel Nicolaus in a research report issued on Tuesday, Stock Ratings Network.com reports. They currently have a $10.50 price objective on the stock. Stifel Nicolaus’ target price suggests a potential upside of 14.13% from the company’s current price.
Shares of Flextronics International (NASDAQ:FLEX) traded up 1.21% on Tuesday, hitting $9.20. The stock had a trading volume of 2,967,632 shares. Flextronics International has a one year low of $5.47 and a one year high of $9.71. The stock has a 50-day moving average of $9.14 and a 200-day moving average of $7.88. The company has a market cap of $5.632 billion and a P/E ratio of 29.13.
Flextronics International (NASDAQ:FLEX) last announced its earnings results on Thursday, July 25th. The company reported $0.18 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.14 by $0.04. The company had revenue of $5.79 billion for the quarter, compared to the consensus estimate of $5.48 billion. During the same quarter in the prior year, the company posted $0.23 earnings per share. The company’s quarterly revenue was down 3.1% on a year-over-year basis. On average, analysts predict that Flextronics International will post $0.84 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on FLEX. Analysts at UBS AG raised their price target on shares of Flextronics International (NASDAQ:FLEX) from $8.50 to $9.25 in a research note to investors on Tuesday. They now have a “neutral” rating on the stock. Separately, analysts at Zacks downgraded shares of Flextronics International (NASDAQ:FLEX) from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, August 28th. They now have a $9.80 price target on the stock. Finally, analysts at RBC Capital raised their price target on shares of Flextronics International (NASDAQ:FLEX) from $9.00 to $10.00 in a research note to investors on Wednesday, August 7th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $9.26.
Flextronics International Ltd. (NASDAQ:FLEX) is a provider of vertically-integrated advanced design and electronics manufacturing services (EMS) to original equipment manufacturers (OEMs).
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