Flextronics International PT Raised to $9.00 (FLEX)
Research analysts at Deutsche Bank hoisted their target price on shares of Flextronics International (NASDAQ:FLEX) from $8.00 to $9.00 in a report released on Wednesday, AR Network reports. The firm currently has a “hold” rating on the stock. Deutsche Bank’s price objective would suggest a potential upside of 1.68% from the stock’s previous close.
A number of other analysts have also recently weighed in on FLEX. Analysts at Craig Hallum downgraded shares of Flextronics International from a “buy” rating to a “hold” rating in a research note to investors on Wednesday. Separately, analysts at Goldman Sachs Group Inc. initiated coverage on shares of Flextronics International in a research note to investors on Wednesday, October 2nd. They set a “neutral” rating and a $9.50 price target on the stock. Finally, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Flextronics International in a research note to investors on Tuesday, October 1st. They now have a $10.50 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $9.44.
Flextronics International (NASDAQ:FLEX) traded down 11.87% during mid-day trading on Wednesday, hitting $7.80. 12,189,192 shares of the company’s stock traded hands. Flextronics International has a 52-week low of $5.47 and a 52-week high of $9.71. The stock has a 50-day moving average of $9.01 and a 200-day moving average of $7.67. The company has a market cap of $4.775 billion and a P/E ratio of 28.37.
Flextronics International (NASDAQ:FLEX) last announced its earnings results on Tuesday, October 29th. The company reported $0.22 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.21 by $0.01. The company had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.28 billion. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Analysts expect that Flextronics International will post $0.84 EPS for the current fiscal year.
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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