KeyBanc raised the firm’s price target on Flex (FLEX) to $50 from $44 and keeps an Overweight rating on the shares. The firm thinks Flex’s “grid-to-chip” strategy has built a differentiated data center business relative to peers, which includes core EMS cloud compute capabilities where the company is accelerating deployment at scale via vertical integration in conjunction with Flex-owned IP for power products. Additionally, KeyBanc thinks Flex will continue to invest in its Data Center business both organically and inorganically and will work to shift the rest of its portfolio to higher growth, higher margin opportunities. The firm acknowledges it’s difficult to know what the “right” multiple is for Flex, but it is optimistic the data center theme will remain top of mind for investors and is confident this management team will continue transforming the business and driving shareholder value.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FLEX:
- SolarEdge reaches key milestone at Austin, Texas manufacturing site
- Flex Ltd’s Working Capital Woes: A Threat to Cash Flow and Profit Margins
- Flex price target raised to $44 from $35 at KeyBanc
- Flex Inc. Receives Buy Rating from Ruplu Bhattacharya Due to Strong Financial Performance and Strategic Growth Initiatives
- Flex initiated with an Overweight at KGI Securities
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue