Analyst Rating Update on Avnet (AVT)

Avnet (AVT) : 2 brokerage houses believe that Avnet (AVT) is a Strong Buy at current levels. 5 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Avnet (AVT). Zacks Investment Research suggests a Sell with a rank of 4. 1 analysts perceive the stock to be overvalued at the existing levels, hence their call is to Sell the stock.The median of all the 8 Wall Street Analysts endorse the stock as a Hold with a rating of 2.63.

Avnet (AVT) : 5 Wall Street analysts covering Avnet (AVT) believe that the average level the stock could reach for the short term is $43.4. The maximum price target given is $47 and the minimum target for short term is around $42, hence the standard deviation is calculated at $2.07.

Company shares have received an average consensus rating of Hold for the current week


Avnet (NYSE:AVT): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $39.96 and $39.95 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $40.56. The buying momentum continued till the end and the stock did not give up its gains. It closed at $40.51, notching a gain of 1.40% for the day. The total traded volume was 1,220,731 . The stock had closed at $39.95 on the previous day.

Avnet, Inc. distributes electronic components, enterprise computer and storage products, information technology solutions and services, and embedded subsystems. The Company operates in two segments: Electronics Marketing (EM) and Technology Solutions (TS). Both operating groups have operations in each of the three economic regions of the world: the Americas; Europe, the Middle East and Africa; and Asia/Pacific, consisting of Asia, Australia and New Zealand. The EM segment markets and sells semiconductors and interconnect, passive and electromechanical devices, and embedded products to a diverse customer base serving many end-markets. The TS segment focuses on the distribution of enterprise computing servers and systems, software, storage, services and complex solutions from the technology manufacturers. The TS segment also provides hard disk drives, microprocessor, motherboard and dynamic random-access memory module technologies to manufacturers of computers and system builders.

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