UPDATE: Bank of America Merrill Lynch Lowers PO on Avnet to $37

Loading...
Loading...
Bank of America Merrill Lynch is out with its report today on Avnet
AVT
, lowering its PO from $40 to $37. In a note to clients, Bank of America Merrill Lynch writes, "Combined, we are reducing our F2011 and F2012 revenue estimates to $26.4bn and $26.9bn from $26.6bn and $27.5bn. F2011 and F2012 EPS go to $4.21 and $4.32 from $4.25 and $4.48. We are revising our PO to $37 ($40 prior) based on 9x our C2012 NOPAT of $5.14 less net debt of $7." Bank of America Merrill Lynch maintains Buy on AVT. At the time of posting, shares of AVT were trading at $28.03, down 0.36% from Wednesday's close.
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorPrice TargetAnalyst RatingsBank of America Merrill LynchInformation TechnologyTechnology Distributors
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...