Brean Murray Carret Maintains Buy on Avnet (AVT)
Brean Murray Carret is out with its report on Avnet (NYSE: AVT), maintaining Buy.
In a note to clients, BMC writes, "Dec Q EPS was $1.07 vs. Street estimate of $1.04, with the Mar Q guide of $0.93-$1.01 vs. Street of $0.94. Dec Q demand remains very solid in both components (EM-Electronics Marketing) and computing (TS-Technology Solution), although component order lead-times have been trending back towards “normal levels.” Operating margin was solid in both the EM and TS segments; TS synergies from the Bell Micro acquisition are beginning to have an impact. Our CY11 EPS estimate remains above the Street at $4.10."
BMC has a $40 PT on AVT.
At the time of posting, shares of AVT were trading at $35.28, up 0.11%.
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