Goldman Sachs Reiterates Buy Rating on Arrow Electronics

Goldman Sachs has released an update today on Arrow Electronics Inc. (NYSE: ARW) after meeting with Arrow's President of Enterprise computing Solutions, Andy Bryant.

Goldman Sachs writes, "Arrow's systems business (30% of company sales) rebounded strongly in Q2 this year and momentum is continuing into year end (management's target for Q4 is for systems to be up 40% qoq and nearly 10% yoy at the mid-point excluding acquisitions)."

In Europe, where ECS growth is strongest, it is anticipated that Arrow will have a 50-100 bp improvement.

Goldman Sachs reiterates its Buy rating and Arrow is trading at $30.06.