Brean Murray, Carret & Co. Raises Avnet Estimates

Avnet, Inc. (NYSE: AVT) had a solid September Q and December Q guide materially above the Street estimates, Brean Murray, Carret & Co. reports.

“Sep Q EPS was $0.93 vs. Street estimate of $0.81, with Dec Q guide of $0.99-$1.07 vs. Street estimate of $0.92,” Brean Murray, Carret & Co. writes.

“Operating margin of 3.6% was better than our estimate of 3.29%, due to better-than-expected operating margin Electronics Marketing (EM-Components). We're raising our CY10 EPS estimate from $3.38 to $3.36 and our CY11 EPS estimate to $4.10 from $3.80.”

Avnet currently trades at $30.13.