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FLEX

Flex

$13.62

0.05 (0.37%)

06:26
10/05/16
10/05
06:26
10/05/16
06:26

Flex upgraded to Conviction Buy from Buy at Goldman

Goldman analyst Mark Delaney added Flex to the Conviction Buy List and maintained its $16 price target saying it is positioned to benefit from entry into new markets and valuation looks attractive. Delaney said new markets could nearly double Flex's TAM in soft goods manufacturing in the long-term, and Nike could develop into a top customers and drive margin expansion. Further, the company has an improving mix and shares trade at a discount to peers, the analyst wrote in a research note.

  • 27

    Oct

  • 14

    Nov

FLEX Flex
$13.62

0.05 (0.37%)

04/26/16
04/26/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Seagate (STX) initiated with a Buy at BTIG by analyst Edward Parker, who believes the company is a lower risk way to play the cloud trend and said it offers solutions that are specifically designed to accommodate cloud workloads at scale and at levels of efficiency greater than anything on the market today. 2. Western Digital (WDC) initiated with a Buy at BTIG with analyst Edward Parker saying he believes the acquisition of Sandisk (SNDK) provides long-term strategic benefits of having captive flash. He also said that the market underappreciates Sandisk's cost leadership. Parker said the acquisition has high integration risks, but the market is discounting and the upside potential is attractive. 3. Flex (FLEX) initiated with an Overweight at JPMorgan by analyst Paul Coster, who said the stock should move higher as the company's Sketch-to-Scale strategy yields margin improvement and a return to growth. 4. Medidata (MDSO) initiated with a Market Perform at Leerink with analyst Steven Wardell viewing the stock as fairly valued following the 40% rally. 5. Scripps Networks (SNI) coverage assumed with a Neutral at Macquarie. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/12/16
BOFA
05/12/16
INITIATION
Target $15
BOFA
Buy
Flex reinstated with a Buy at BofA/Merrill
BofA/Merrill reinstated coverage on Flex with a Buy rating and $15 price target.
05/24/16
STPT
05/24/16
DOWNGRADE
STPT
Hold
Flex downgraded to Hold from Buy at Standpoint Research
09/20/16
GSCO
09/20/16
UPGRADE
Target $16
GSCO
Buy
Flex upgraded to Buy from Neutral at Goldman
Goldman analyst Mark Delaney upgraded Flex (FLEX) to Buy and raised its price target to $16 from $13. The analyst said Flex is entering the footwear manufacturing market with its expanded partnership with Nike (NKE), nearly doubling its addressable market. Further the company has diversified its end market exposure and is now less reliant on traditional tech markets like handsets, the analyst wrote. Delaney adds that Flex trades at a discount to the group despite better growth and diversification.

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