Deutsche Bank Has Buy Rating On Flextronics After Analyst Day

Deutsche Bank has a Buy rating and a $10 price target on shares of Flextronics FLEX after the company hosted its Analyst day. In a note to clients, Deutsche Bank writes, "FLEX hosted its Analyst Day in New York, giving long-term targets for ROIC, sales growth, OpMgns, cash generation and EPS growth, but maintaining June Q guidance of revenue of $7.1-$7.6B and EPS of $0.20-$0.23 ex-options. As we expected, FLEX also gave an update on the notebook/ODM business, which the company will be de-emphasizing, and gave additional detail on issues in the Components segment. FLEX rolled out a reorganized of its industry segments, providing growth and OpMgn targets for each group. With shares trading below historical valuations and below peers, we very valuation as attractive and reiterate our Buy." Shares of FLEX lost 2 cents yesterday to close at $6.78.