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Fly News Breaks for February 12, 2018
Feb 12, 2018 | 06:09 EDT
Raymond James analyst Adam Tindle upgraded Arrow Electronics (ARW) to Strong Buy and established a $93 price target. The analyst believes modest revenue growth with margin expansion and solid cash generation will result in strong relative outperformance. In addition, Tindle believes structural industry changes are well known and thinks the bear case is losing steam noting margin declines improved in Q4, competitors are seeing margin improvement related to supplier programs, other suppliers are using distribution as an opportunity to take share from Texas Instruments (TXN), and Arrow's Q4 results indicate the company can generate operating leverage even with low gross margins.
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