Arrow Electronics price target raised to $240 from $183 at Truist

Truist raised the firm’s price target on Arrow Electronics (ARW) to $240 from $183 and keeps a Buy rating on the shares. Estimates should “go significantly higher” after a significant Q1 beat and above-consensus Q2 guidance, says the analyst, who raises the firm’s calendar year 2027 EPS forecast to $21.65 from $18.30. The firm believes it is still “relatively early stages” of upside in the diversified/industrial exposed semis” and argues that Arrow’s “still low” valuation “affords investors more time to get long.”