Positive Report for Flex Ltd from Standpoint Research

By Ryan Adsit

In a report released yesterday, Ronnie Moas from Standpoint Research upgraded Flex Ltd (NASDAQ: FLEX) to Buy. The company’s shares closed yesterday at $14.35.

According to TipRanks.com, Moas is a 5-star analyst with an average return of 5.9% and a 69.7% success rate. Moas covers the Consumer Goods sector, focusing on stocks such as LyondellBasell, F5 Networks, and Tesla.

Flex Ltd has an analyst consensus of Strong Buy, with a price target consensus of $17.67.

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Based on Flex Ltd’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $19.6 million. In comparison, last year the company had a net profit of $86.87 million.

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Flex Ltd. provides innovative design, engineering, manufacturing, real-time supply chain insight and logistics services to companies of all sizes in various industries and end-markets. It operates through the following segments: Communications & Enterprise Compute, Consumer Technology Group, Industrial and Emerging Industries, and High Reliability Solutions.