Credit Suisse Raises FLEX Target To $10 From $8

Flextronics International Ltd. FLEX posted a modest and very clean FQ3 beat with broad-based revenue strength across all end markets, and improving performance in its vertical components business, Credit Suisse reports. “The FQ4 guidance was similarly robust,” Credit Suisse writes. “These trends lead us to raise our C11 EPS from $0.90 to $1.01 and C12 EPS from $1.04 to $1.10. We raise our TP from $8 to $10 based on 9x our C12 EPS estimate. With 20% upside potential to our TP we remain Outperform.” Flextronics International currently trades at $8.22.