BofA cuts Arrow Electronics PT; expects end-market demand to slow

Arrow Electronics

31/01/2023 15:37

** BofA cuts PT for electronic products and services company
 Arrow Electronics Inc  ARW.N  to $124 from $125; remains
"neutral" on co 
    ** We expect ARW to see end market demand to moderate
somewhat over the next few quarters - BofA 
    ** Brokerage expects a weakening in all end markets for most
chipmakers and electric component makers, except the automotive
segment 
    ** "As suppliers lower prices, we expect ARW to see some
margin compression," BofA says on ARW margins, still expecting
them to be above pre-COVID levels 
    ** Says that business from its shortage parts business is
expected to slow as supply chains ease up with better component
availability 
    ** Stock up ~11% this month 
 (Reporting by Anirban Chakroborti in Bengaluru)
 ((Anirban.Chakroborti@thomsonreuters.com;))