UPDATE: Bank of America Merrill Lynch Lowers PO on Avnet to $37 - Avnet (NASDAQ:AVT)

27% profit every 20 days?

This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.

Bank of America Merrill Lynch is out with its report today on Avnet (NYSE: 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.

27% profit every 20 days?

ENTER TO WIN $500 IN STOCK OR CRYPTO

Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!