As previously reported, Craig-Hallum upgraded Flex to Buy from Hold with a price target of $39, up from $27. Now post the successful spin-off of the company’s Nextracker asset, the firm believes Flex is executing as a well-run contract manufacturer focused on sticky, long-term design wins that can drive improved margins, as well as being consistently very shareholder friendly and a significant repurchaser of shares for many years. The company is also well positioned to benefit from AI-related datacenter opportunities, where across both cloud compute and data center power management believes they can grow data center business at a 20% topline CAGR from FY24 through FY29, or from $3B of revenue in FY24 to $5.5B by FY27 and $8B by FY29.
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Read More on FLEX:
- Flex Announces CFO Transition, Appoints Interim Successor
- FLEX REPORTS FIRST QUARTER FISCAL 2025 RESULTS, ANNOUNCES CHIEF FINANCIAL OFFICER TRANSITION
- Flex CFO Paul Lundstrom stepping down, Jaime Martinez named Interim CFO
- Flex sees FY25 adjusted EPS $2.30-$2.50 , consensus $2.38
- Flex reports Q1 adjusted EPS 51c, consensus 41c