Market Overview

UPDATE: Stifel Nicolaus Raises PT to $40 on Avnet Following Conference Call

Share:
Related AVT
Tech Data's 20% Pullback Is An Overreaction; 5 Reasons Apple Revenue Could Grow
Brean Moving To The Sidelines On Avnet As Enterprise Softness Digested
Bernard Horn's 5 New Buys All Undervalued by Lynch Earnings Line (GuruFocus)

Stifel Nicolaus reiterated its Buy rating on Avnet (NYSE: AVT) and raised the price target from $35.00 to $40.00.

Stifel Nicolaus commented, "Positive bookings trends in the components business is an encouraging sign that the component cycle has at least bottomed, if not turned, and that a modest inventory-refresh period may be in the offing. The surprisingly strong sequential growth in Tech Solutions (up roughly 27% on a pro forma basis) is a clear sign that enterprise deals pushed out from the Sept. quarter got done in calendar Q4 and pipeline quarter-to-date indicates a return to seasonal patterns, another positive. Management said it still aims to achieve 3.7% EBIT margins in the June quarter, which would imply an annual EPS run-rate of well north of $4.00."

Avnet closed at $34.40 on Thursday.

Latest Ratings for AVT

DateFirmActionFromTo
May 2016CitigroupDowngradesBuySell
Apr 2016Brean CapitalDowngradesBuyHold
Apr 2016Bank of AmericaInitiates Coverage onNeutral

View More Analyst Ratings for AVT
View the Latest Analyst Ratings

Posted-In: Stifel NicolausAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (AVT)

View Comments and Join the Discussion!