Avnet price target raised to $55 from $50 at BofA

BofA raised the firm’s price target on Avnet (AVT) to $55 from $50 and keeps an Underperform rating on the shares. The company is executing well and reported fiscal Q2 results above expectations, the analyst tells investors in a research note. The firm awaits more confirmation on the sustainability of Avnet’s demand trends before adjusting its rating.