Avnet price target raised to $52 from $48 at Truist

Truist raised the firm’s price target on Avnet to $52 from $48 but keeps a Hold rating on the shares after its Q4 earnings beat. The company’s results topped consensus estimates, driven by stronger components sales and lower interest and tax rates, though its Q3 outlook was below consensus as demand and inventory challenges that were “more prominent” by geography and by supplier continue to weigh on growth, the analyst tells investors in a research note.