Avnet price target raised to $50 from $49 at Truist

Truist raised the firm’s price target on Avnet (AVT) to $50 from $49 but keeps a Hold rating on the shares after its Q4 results. The firm is maintaining its view that the company is over-earning, but its short order revenue and margins are holding in stronger than expected, the analyst tells investors in a research note. Truist adds however that it continues to prefer suppliers with sustainable end market exposure and better fundamentals, such as Microchip (MCHP).