New Business a Potential Bright Spot for Shares of Flextronics (FLEX)

Shares of Flextronics (NASDAQ: FLEX) are trading lower today following the company's quarterly earnings report yesterday. Flextronics' business has been soft, particularly in traditional enterprise & infrastructure markets, noted a report today by analysts at Needham and Company.

"On the bright side, FLEX continues to have a strong pipeline of opportunities with new program wins that are robust and present opportunities for a growth platform in a stabilized environment," said analyst Sean K.F. Hannan. He sees strength in new business if macro can hold.

Needham & Company maintained a Buy on Flextronics (NASDAQ: FLEX) with a revised price target of $7.00 (from $8.00).

For an analyst ratings summary and ratings history on Flextronics click here. For more ratings news on Flextronics click here.

Shares of Flextronics closed at $6.12 yesterday.

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