Goldman Sachs analyst Mark Delaney upgraded Flex to Buy from Neutral and added the shares to his firm's Conviction Buy List with an unchanged price target of $11. The analyst had been concerned about the potential overhang from a "handful of issues," including the company's CEO search, the size of its CTG program exits and the resulting impact on earnings, and macroeconomic risk. He believes, however, that these issues now have more clarity and are priced into the stock. Delaney is also positive on the new CEO's strategy to focus on higher margins, more sustainable businesses, operational discipline, and free cash flow generation. Further, Flex shares are currently trading at a "trough" multiple, Delaney tells investors in a research note.