UPDATE: Brean Murray Carret Raises Target to $39 on Avnet

Brean Murray Carret maintains its Buy rating on Avnet (NYSE: AVT) and raises its price target to $39 (previously $37) as the company still sees opportunity to expand operating margins by potential tailwinds in components.

Brean Murray Carret says, "Dec Q revenue was a tad softer than Street but EPS handily beat –Mar Q guidance is stronger than Street. AVT reported Dec Q revenue and EPS of $6.69B and $1.15 vs. Street of $6.74B and $1.04, with Mar Q revenue and EPS guidance of $5.95B - $6.55B and $0.94 - $1.02 vs. Street of $6.33B and $0.95."

AVT closed at $33.60 a share on Thursday.