UPDATE: Deutsche Bank Downgrades Flextronics on Cautious Market Expectations

In a report published on Wednesday, Deutsche Bank analyst Sherri Scribner Downgraded the Rating on Flextronics FLEX from Buy to Hold and maintained a price target of $8.

In the report, Deutsche Bank noted, "While we had been optimistic on a back-half recovery in the telecom and networking end markets, we are becoming more cautious and now expect a relatively muted C2H-13."

Flextronics closed on Wednesday at $7.35.