Flextronics International Receives Hold Rating from Deutsche Bank (FLEX)
Flextronics International (NASDAQ:FLEX)‘s stock had its “hold” rating reaffirmed by research analysts at Deutsche Bank in a report released on Friday. They currently have a $12.00 price objective on the stock, up from their previous price objective of $9.00. Deutsche Bank’s target price would indicate a potential upside of 10.70% from the stock’s previous close.
A number of other analysts have also recently weighed in on FLEX. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Flextronics International in a research note on Friday. They now have a $12.00 price target on the stock, up previously from $10.00. Separately, analysts at RBC Capital raised their price target on shares of Flextronics International from $11.00 to $12.00 in a research note on Friday, June 6th. They now have an “outperform” rating on the stock. Finally, 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. Flextronics International currently has a consensus rating of “Hold” and an average target price of $11.15.
Shares of Flextronics International (NASDAQ:FLEX) traded down 3.56% on Friday, hitting $10.84. 4,806,087 shares of the company’s stock traded hands. Flextronics International has a 1-year low of $7.01 and a 1-year high of $11.49. The stock has a 50-day moving average of $11.08 and a 200-day moving average of $9.55. The company has a market cap of $6.346 billion and a price-to-earnings ratio of 19.05.
Flextronics International (NASDAQ:FLEX) last released its earnings data on Thursday, July 24th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.03. The company had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.29 billion. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. Analysts expect that Flextronics International will post $1.01 EPS for the current fiscal year.
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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