Goldman Sachs Reiterates Buy Rating on Arrow Electronics

Goldman Sachs has released an update today on Arrow Electronics Inc. ARW after meeting with Arrow's President of Enterprise computing Solutions, Andy Bryant. Goldman Sachs writes, "Arrow's systems business (30% of company sales) rebounded strongly in Q2 this year and momentum is continuing into year end (management's target for Q4 is for systems to be up 40% qoq and nearly 10% yoy at the mid-point excluding acquisitions)." In Europe, where ECS growth is strongest, it is anticipated that Arrow will have a 50-100 bp improvement. Goldman Sachs reiterates its Buy rating and Arrow is trading at $30.06.