Flextronics International Price Target Increased to $9.50 by Analysts at Citigroup Inc. (FLEX)
Citigroup Inc. raised their price objective on shares of Flextronics International (NASDAQ:FLEX) from $9.00 to $9.50 in a research note issued on Thursday, Stock Ratings Network reports. Citigroup Inc.’s price target would indicate a potential upside of 14.80% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Thomson Reuters/Verus downgraded shares of Flextronics International from a “buy” rating to a “hold” rating in a research note to investors on Monday, January 20th. Analysts at Goldman Sachs Group Inc. downgraded shares of Flextronics International from a “neutral” rating to a “sell” rating in a research note to investors on Wednesday, December 4th. They now have a $7.00 price target on the stock, down previously from $8.00. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $9.31.
Flextronics International (NASDAQ:FLEX) traded up 7.47% during mid-day trading on Thursday, hitting $8.275. The stock had a trading volume of 26,030,332 shares. Flextronics International has a 52-week low of $6.17 and a 52-week high of $9.71. The stock has a 50-day moving average of $7.5 and a 200-day moving average of $8.34. The company has a market cap of $5.029 billion and a price-to-earnings ratio of 28.95.
Flextronics International (NASDAQ:FLEX) last issued its quarterly earnings data on Wednesday, January 29th. The company reported $0.26 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.23 by $0.03. The company had revenue of $7.18 billion for the quarter, compared to the consensus estimate of $6.70 billion. During the same quarter in the prior year, the company posted $0.22 earnings per share. The company’s quarterly revenue was up 17.3% on a year-over-year basis. Analysts expect that Flextronics International will post $0.80 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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