Avnet (AVT) stock is expected to deviate a maximum of $2.59 from the average target price of $44.2 for the short term period. 5 Street Experts have initiated coverage on the stock with the most promising target being $47 and the most muted being $42.
Avnet (AVT) : The consensus on Avnet (AVT) based on 8 analyst recommendation on the company stock is 2.63, which is interpreted as a Hold recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 2 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 5 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 1 analyst also believes that the downside risk to the stock is higher and suggests a Sell on Avnet (AVT).
Also, Major Brokerage house, Citigroup maintains its ratings on Avnet (NYSE:AVT). In the latest research report, Citigroup raises the target price from $31 per share to $37 per share. According to the latest information available, the shares are now rated Sell by the analysts at the agency. The rating by the firm was issued on August 11, 2016.
Avnet (NYSE:AVT): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $41.73 and $41.34 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $41.93. The buying momentum continued till the end and the stock did not give up its gains. It closed at $41.71, notching a gain of 0.07% for the day. The total traded volume was 841,187 . The stock had closed at $41.68 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.