03:00 PM EDT, 05/01/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We keep our 12-month target at $31 on 11x our CY 2025 EPS view of $2.86, above its three-year historical average, reflecting long-term favorable mix. We keep our FY 2025 EPS view at $2.48 and start FY 2026's at $2.61. FLEX posted Q4 EPS of $0.57 vs. $0.57, $0.02 above consensus. Revenues fell 12% to $6.2B, better than feared, as Reliability (-10%) and Agility (-14%) declined on macroeconomic weakness in commercial/industrial solutions and consumer devices. Automotive revenue was up 6% on new ramps and content growth, and health solutions was up 3% with strong medical device demand muted by an industry slowdown in life sciences and hospital-related capex spending. Gross margin expanded 160 bps to 8.6% on favorable mix. FLEX made further progress cutting inventories, with net inventory down 16% (6% Q/Q), and we believe semiconductor shortages and supply chain issues are largely normalized now. We are positive on improving mix and margin outlook, with Automotive EV and Cloud as ongoing growth drivers.