Brean Murray Has $40 Target On Arrow Electronics (ARW)

Brean Murray Carret & Co. has a $40 price target on Arrow Electronics, Inc. (NYSE: ARW) and a Buy rating, after the company reported better than expected earnings.

In a note to clients, Brean Murray writes, "We see potential upside from the acquisitions. Acquisitions of Nu Horizon and RF are expected to be accretive to FY11 EPS by $0.25-0.42. The acquisitions make strategic sense given RF will add unified communication into Arrow's portfolio, while Nu Horizon will help Arrow expand its footprint into high growth Asian markets."

Shares of ARW gained 94 cents yesterday to close at $29.36, a gain of 3.3%.

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