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FLEX - Flex News Story

$18.35 -0.3  -1.8%

Last Trade - 10/05/21

Sector
Technology
Size
Large Cap
Market Cap £6.49bn
Enterprise Value £7.30bn
Revenue £17.08bn
Position in Universe 993rd / 6853

BUZZ-Flex Ltd: Gains after Goldman upgrade, adds stock to "conviction buy list"

Thu 6th June, 2019 12:39pm
** Electronics manufacturer's shares  FLEX.O  rise 4.9% to
$9.81 in light premarket trading after Goldman Sachs upgrades to
"buy" from "neutral"
    ** Brokerage says that earlier it was concerned about the
potential overhang from new CEO search, macroeconomic risks,
among others, but now the issues have more clarity or have been
priced into stock
    ** Also adds stock to its "conviction buy list"
    ** GS analyst Mark Delaney is also positive on new CEO's
strategy to focus on higher margins, more sustainable
businesses, operational discipline, and free cash flow
generation
    ** Current avg rating on stock is "buy"; median PT $13
    ** Stock has fallen 23% this year

 (Reporting by Amy Caren Daniel in Bengaluru)
 ((Reuters Messaging:
Amy.CarenDaniel.thomsonreuters.com@reuters.net))
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