Flex price target raised to $75 from $52 at Stifel

Stifel raised the firm’s price target on Flex (FLEX) to $75 from $52 and keeps a Buy rating on the shares after the company reported fiscal Q2 sales and adjusted EPS ahead of the firm’s estimates and gave better-than-expected Q3 guidance. The firm, which is “modestly” raising estimates, believes Flex is executing well with strong operating margin performance and a focused shift towards higher value AI related applications, the analyst tells investors.