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Fly News Breaks for November 4, 2019
ARW
Nov 4, 2019 | 09:20 EDT
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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