Weekly Investment Analysts’ Ratings Changes for Avnet (AVT)
A number of stock research firms have changed their ratings and price targets for Avnet (NYSE: AVT) during the last seven days:
- Avnet had its “buy” rating reaffirmed by analysts at Deutsche Bank. They now have a $34.00 price target on the stock.
- Avnet had its “buy” rating reaffirmed by analysts at Brean Murray. They now have a $36.00 price target on the stock.
- Avnet was downgraded by analysts at Raymond James from an “outperform” rating to a “market perform” rating.
- Avnet had its price target lowered by analysts at UBS AG to $35.00. They now have a “buy” rating on the stock.
- Avnet was downgraded by analysts at Zacks from a “neutral” rating to an “underperform” rating. They now have a $25.00 price target on the stock. Zacks‘ analyst wrote, “We are downgrading our recommendation on Avnet from Neutral to Underperform. Earnings estimates for the company have declined significantly, as the weakened economy and currency fluctuation continues to hurt its businesses. Moreover, the competitive strides in the industry may have a detrimental impact on the company. However, Avnet’s diversified product ranges and notable acquisition strategy would surely have a positive impact on its businesses. Additionally, the company’s cost effective initiatives and share repurchase activity are also impressive. “
Avnet, Inc. traded up 0.21% on Thursday, hitting $28.13. Avnet, Inc. has a 52-week low of $25.41 and a 52-week high of $37.03. The company has a market cap of $3.976 billion and a price-to-earnings ratio of 7.41.
Avnet, Inc. (Avnet) together with its subsidiaries, is an industrial distributor of electronic components, enterprise computer and storage products and embedded subsystems.