Flex price target raised to $75 from $65 at BofA

BofA analyst Ruplu Bhattacharya raised the firm’s price target on Flex (FLEX) to $75 from $65 and keeps a Buy rating on the shares following a “strong” fiscal Q2 report that beat Street revenue and EPS estimates. Guidance implies a strong fiscal Q4, notes the analyst, who is adjusting estimates and also using a higher multiple on continued strong revenue from higher margin power and cloud sales.