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Fly News Breaks for January 19, 2018
ARW, TEL, AVT, ON
Jan 19, 2018 | 08:08 EDT
As previously reported, Longbow analyst Shawn Harrison upgraded Avnet (AVT) to Buy from Neutral after increasing his semi and connector forecasts, in most cases above consensus, for calendar Q4 and both Q1 and 2018. Contacts now expect that market tightness will not subside until after the second quarter of 2018, added Harrison, who set a $50 price target on Avnet shares. Citing the checks, Harrison also increased his price target on Arrow Electronics (ARW) to $100 from $96, on ON Semiconductor (ON) to $28 from $26 and on TE Connectivity (TEL) to $110 from $103. He maintains Buy ratings on those three stocks.
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