Avnet price target raised to $50 from $45 at Citi

Citi analyst Jim Suva raised the firm’s price target on Avnet to $50 from $45 and keeps a Neutral rating on the shares. The analyst was "impressed" with Avnet’s fiscal Q2 beat and guidance. The push back by investors will be the increase in inventory, receivable, and a book to bill below one, which will all correct to be right sized in a few quarters, the analyst tells investors in a research note.