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ARW

Arrow Electronics

$84.50

-0.2 (-0.24%)

04:47
01/13/20
01/13
04:47
01/13/20
04:47

Arrow Electronics downgraded to Equal Weight from Overweight at Wells Fargo

Wells Fargo analyst Joseph Quatrochi downgraded Arrow Electronics to Equal Weight from Overweight with an $86 price target.

ARW Arrow Electronics
$84.50

-0.2 (-0.24%)

08/02/19
WELS
08/02/19
NO CHANGE
Target $83
WELS
Outperform
Arrow's constructive comments overshadowed by Trump tweet, says Wells Fargo
Wells Fargo analyst Joe Quatrochi thinks Arrow Electronics offered a constructive view on the current inventory correction and demand environment, as the company believes the market is "bouncing along the bottom," which could point to a potentially quick recovery. However, this was "overshadowed" by questions about the broader macro implications of President Trump's tweet that the U.S. will place an additional 10% tariff on the remaining $300B of Chinese goods that are not already being subject to tariffs. Quatrochi, who has a positive view of Arrow's actions focused on driving profitability in this period of slower demand, trimmed his price target on the shares to $83 from $85 and keeps an Outperform rating on the stock.
10/04/19
LBOW
10/04/19
DOWNGRADE
LBOW
Neutral
Longbow downgrades Avnet to Neutral after TI plans end to distribution pact
Longbow analyst Shawn Harrison downgraded Avnet (AVT) to Neutral from Buy, citing uncertainty created by Texas Instruments' (TXN) decision to end its distribution relationship with the company. Avnet now finds itself in "an unenviable position of finding new significant cost cuts while already halfway through massive cost reductions," said the analyst, who estimates the gross profit impact is $150M, or greater than $1.00 per share of EPS. Harrison added that he expects TI to migrate the business to Arrow Electronics (ARW)
10/14/19
LBOW
10/14/19
NO CHANGE
Target $84
LBOW
Buy
Longbow says Arrow shares' reaction 'surprisingly underwhelming' to good TI news
Longbow analyst Shawn Harrison called Arrow Electronics (ARW) "the clear winner" from news of of Texas Instruments' (TXN) consolidation of over $6B of distribution resales. The analyst, who noted that TI's plans to consolidate to six global distributors by the end of 2020 will leave Arrow as its sole fulfillment partner in North America, Europe, and Asia excluding Japan, thinks the stock's reaction thus far to the news "has been surprisingly underwhelming." Harrison maintains a Buy rating and $84 price target on Arrow shares.
11/04/19
RHCO
11/04/19
NO CHANGE
Target $84
RHCO
Hold
Arrow Electronics price target raised to $84 from $70 at SunTrust
SunTrust analyst William Stein raised his price target on Arrow Electronics to $84 and kept his Hold rating after its "mixed" Q3 results, saying that while its Component sales met expectations, the earnings beat was "operational" thanks to the lower interest, lower taxes, and lower share count contributions. The analyst adds that demand for Arrow Electronics products is still "bouncing along the bottom with no clear sign of recovery" as book to bill ratio fell below parity in Q3. Stein add that the stock "no longer looks particularly cheap".

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