BofA raised the firm’s price target on Flex (FLEX) to $65 from $58 and keeps a Buy rating on the shares. Management has guided long-term data center revenue compound annual growth of 20% and the company is already tracking ahead of this target, the analyst tells investors. The firm, which is adjusting estimates higher, also applies a higher multiple on more confidence in the sustainability of data center demand and gradual improvement in other end markets.
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