Arrow Electronics price target raised to $138 from $131 at Truist

Truist analyst William Stein raised the firm’s price target on Arrow Electronics to $138 from $131 and keeps a Hold rating on the shares. The company’s Q3 guidance was below consensus as “shortage market” distribution weighs on sales and margins, but its Q2 earnings beat highlighted its resilient end markets and higher Enterprise Computing sales, the analyst tells investors in a research note.