Goldman Remains Sell On Flextronics International After Analyst Day

Goldman Sachs has a Sell rating on shares of Flextronics International Ltd. FLEX after the company hosted an Analyst Day. In a note to clients, Goldman writes, "We attended Flextronics Analyst Day today in NY. The event was a 180 degree turn from last year, with the focus shifting from penetrating large total available markets (TAMs) to driving profitable growth in more niche markets like medical and industrial. In turn, management made the decision to exit the computing ODM business as a result of intensifying pressure on margins. The company also maintained its guidance for the June quarter." Shares of FLEX lost 2 cents yesterday to close at $6.78.