Arrow Electronics slips as Goldman Sachs cuts PT on macro headwinds

Arrow Electronics

07/11/2022 18:38

** Electronic components distributor Arrow Electronics Inc's
shares  ARW.N  slip 0.9% to $103.3 
    ** Goldman Sachs cuts PT to $111 from $120, says co
indicates signs of downturn behavior
    ** Brokerage says reducing customers in consumer electronics
in China, normalization of bookings and moderated pricing are
emerging signs of cyclical downturn in revenue
    ** Brokerage also says co's record-high inventory at the end
of Q3 signals sudden deterioration in demand
    ** One of eight brokerages rate the stock "buy", six "hold"
and one "sell"; their median PT is $114 - Refinitiv data
    ** Stock down 23.1% YTD
 (Reporting by Shristi  Achar A in Bengaluru)
 ((Shristi.AcharA@thomsonreuters.com;))