In a report released yesterday, Ruplu Bhattacharya from Bank of America Securities maintained a Buy rating on Flex, with a price target of $58.00.
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Ruplu Bhattacharya has given his Buy rating due to a combination of factors that highlight Flex’s strong market position and growth potential. One of the key reasons is the strategic transaction with Amazon, where Flex issued a warrant allowing Amazon to purchase a significant number of shares. This deal not only endorses Flex’s strategy but also strengthens its growth prospects, particularly in the data center sector where Flex is already surpassing its long-term growth targets.
Additionally, Flex’s competitive edge in the power product business is another factor supporting the Buy rating. The company’s extensive portfolio of embedded and critical power solutions, based on its own intellectual property, allows it to execute efficiently on a global scale. Furthermore, Flex’s focus on improving power efficiency in data centers, alongside its disciplined capital deployment strategy, reinforces confidence in its ability to enhance margins and deliver capital returns. These elements collectively justify the Buy rating with a price objective of $58.
In another report released on August 22, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $55.00 price target.
FLEX’s price has also changed moderately for the past six months – from $38.580 to $52.980, which is a 37.33% increase.