Movement Alert｜Flex Ltd. Falls 5.96% in Regular Trading, Target Price Cut Ahead of Earnings Weighs on Sentiment

Market Focus10-22

On October 22, Flex Ltd. fell 5.96% in Regular Trading, trading around $79.41 per share, with turnover of $108 million.

The main catalyst was a target price cut by an investment bank ahead of the company’s October 28 earnings release, which pressured near-term sentiment despite a still-positive broader analyst stance.

Recent updates show Baird lowered its price target on Flex Ltd. to $135 from $142 on October 19, after having reduced it from $165 to $142 in July. At the same time, the stock still carries an average buy rating and a mean target price of $158.09. For the upcoming quarter, market expectations are for revenue of $8.141 billion, adjusted EPS of $1.05, and EBIT of $557 million. Investors are also tracking the completed EPC Power acquisition and the planned Q1 spin-off of the cloud and power infrastructure business as key valuation drivers.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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