Avnet price target raised to $95 from $80 at Truist

Truist raised the firm’s price target on Avnet (AVT) to $95 from $80 and keeps a Buy rating on the shares. The firm noted that Avnet “continues its cyclical recovery,” posting Q1 results with “meaningful upside” along with “well above consensus” Q2 guidance. Truist added that with “demand improving, leadtimes extending, prices increasing, and shortages starting, distribution is a safe place.”