Topeka Capital Starts Stock Coverage on Flextronics International (FLEX)

By admin | 6 years ago

Equities researchers at Topeka Capital assumed coverage on shares of Flextronics International (NASDAQ: FLEX) in a report issued on Friday. The firm set a “sell” rating on the stock.

Shares of Flextronics International traded up 0.98% during mid-day trading on Friday, hitting $6.20. Flextronics International has a one year low of $5.05 and a one year high of $7.49. The company has a market cap of $4.187 billion and a P/E ratio of 9.16.

Flextronics International last issued its quarterly earnings data on Tuesday, May 1st. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.06. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. On average, analysts predict that Flextronics International will post $0.25 earnings per share next quarter.

A number of other analysts have also recently weighed in on FLEX. Analysts at Needham & Company reiterated a “buy” rating on shares of Flextronics International in a research note to investors on Friday. Separately, analysts at Bank of America (NYSE: BAC) upgraded shares of Flextronics International from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday, May 15th. They now have a $8.50 price target on the stock. Finally, analysts at Bank of America (NYSE: BAC) upgraded shares of Flextronics International from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, May 2nd. They now have a $7.50 price target on the stock, up previously from $6.50.

Flextronics International Ltd. (Flextronics) is a provider of vertically-integrated advanced design and electronics manufacturing services (EMS) to original equipment manufacturers (OEMs).

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