Flex Ltd FLEX:NASDAQ

Last Price$10.01NASDAQ Closing Price as of 3:59PM ET 7/13/20

Today's Change+0.12(1.21%)
Bid (Size)$9.53 (5)
Ask (Size)$10.30 (3)
Day Low / High$10.01 - 10.35
Volume4.7 M

Research Alert: CFRA Reiterates Hold Recommendation On Shares Of Flex Ltd.

11:30AM ET 1/31/2020 MT Newswires
CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We increase our 12-month target by $2 to $15 on 10.4x our FY 21 (Mar.) EPS estimate, roughly in line with electronic manufacturing services (EMS) peers. We raise our FY 20 EPS estimate by $0.02 to $1.28 and FY 21's by $0.04 to $1.44. FLEX reported Dec-Q non-GAAP EPS of $0.38 vs. $0.34, beating consensus by $0.04 on a wider gross margin (up 60 bps to 7.1%). Net sales declined 7.0% to $6.5B, topping consensus by $316M, as lower-than-expected declines in Communications Enterprise Compute (CEC) helped drive the beat. Industrial and Emerging Industries (IEI) experienced broad-based strength across its portfolio. The repositioning of the Consumer Technologies Group (CTG) portfolio has progressed well and should help mute seasonal trends that usually crest in Mar-Q. Profitability continues to improve, as the company successfully manages product mix and implements controls. The current risk/reward tradeoff remains neutral after the recent rally in shares, in our view.