UBS AG Raises Price Target on Avnet (AVT)
UBS AG (NYSE: UBS) increased their price target on shares of Avnet (NYSE: AVT) from $39.00 to $44.00 in a research note issued on Friday. The firm currently has a “buy” rating on the stock.
Separately, analysts at Zacks reiterated a “neutral” rating on shares of Avnet in a research note to investors on Monday, April 16th. They now have a $37.00 price target on the stock.
Avnet opened at 36.65 on Friday. Avnet has a 52-week low of $23.69 and a 52-week high of $38.00. The company has a market cap of $5.316 billion and a price-to-earnings ratio of 8.30.
The company last announced its quarterly results on Thursday, April 26th. It reported $1.03 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.99 EPS by $0.04. The company’s quarterly revenue was down 5.9% on a year-over-year basis. Analysts expect that Avnet will post $1.02 EPS next quarter.
Avnet, Inc. (Avnet), together with its subsidiaries, is an industrial distributor of electronic components, enterprise computer and storage products and embedded subsystems.