Collins Stewart Maintains Buy on Flextronics Intl.

Collins Stewart is out with its report today on Flextronics Intl. FLEX, maintaining Buy. In a note to clients, Collins Stewart writes, "Flextronics held its annual analyst meeting and reviewed a variety of near and long term issues and questions. We would expect the shares to trade flattish until visibility emerges that the back half of the year will see materially improved performance. High on the list of issues discussed was what to do with the PC design business, the Components areas which have not ramped to expected margins (PCB fabrication, camera modules & power supplies), and long-term top & bottom line growth. While the questioning was tough, Flex did reiterate its prior June qtr guidance along with 13.7% FY12 (Mar) revenue growth (the street is modeling 10.4% growth, or $31.7B) & long-term targets of EPS/FCF growth >15%, ROIC >20%, Rev growth >10%, and suggested that overall their trends are very positive." At the time of posting, shares of FLEX were trading pre-market at $6.86, up 1.11% from Tuesday's close.