Flextronics International Given New $12.00 Price Target at RBC Capital (FLEX)
Analysts at RBC Capital raised their target price on shares of Flextronics International (NASDAQ:FLEX) from $11.00 to $12.00 in a research report issued to clients and investors on Friday. The firm currently has an “outperform” rating on the stock. RBC Capital’s price target indicates a potential upside of 10.80% from the company’s current price.
Shares of Flextronics International (NASDAQ:FLEX) opened at 10.83 on Friday. Flextronics International has a 52-week low of $7.01 and a 52-week high of $10.86. The stock has a 50-day moving average of $9.67 and a 200-day moving average of $8.66. The company has a market cap of $6.340 billion and a P/E ratio of 18.14.
Flextronics International (NASDAQ:FLEX) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.04. The company had revenue of $6.72 billion for the quarter, compared to the consensus estimate of $6.10 billion. Analysts expect that Flextronics International will post $1.01 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Needham & Company LLC upgraded shares of Flextronics International from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd. They now have a $12.00 price target on the stock. Separately, analysts at Stifel Nicolaus downgraded shares of Flextronics International from a “buy” rating to a “hold” rating in a research note on Monday, May 12th. Finally, analysts at Argus upgraded shares of Flextronics International from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th. They now have a $13.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $10.53.
In other Flextronics International news, CFO Christopher Collier unloaded 7,500 shares of the company’s stock on the open market in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $10.56, for a total transaction of $79,200.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Flextronics International Ltd. (NASDAQ:FLEX) is a global provider of global supply chain solutions, through which the Company designs, build, ship and services a packaged electronic product to original equipment manufacturers (OEMs) in the markets, which include High Reliability Solutions (HRS), which is consists of its medical, automotive, defense and aerospace businesses; High Velocity Solutions (HVS), which includes its mobile devices business, including smart phones, and consumer electronics, including game consoles, high-volume computing business, including notebook personal computing (PC), tablets and printers; Industrial and Emerging Industries (IEI), which is consists of its household appliances, equipment, and industries businesses, and Integrated Network Solutions (INS), which includes its telecommunications infrastructure, data networking, connected home, and server and storage businesses.
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