25 May '11, 5pm

Flextronics shares rise as analyst upgrades stock: Shares of Singapore-based electronics manufacturer Flextronic...

SAN FRANCISCO (AP) — Shares of Singapore-based electronics manufacturer Flextronics International Ltd. climbed Wednesday after an analyst upgraded the stock, saying he believes its profit margins will improve. Flextronics rose 23 cents, or 3.3 percent, to $7.01 in afternoon trading. In a client note, Raymond James analyst Brian Alexander raised his rating to "Outperform" from "Market Perform" and set a $9 price target for the shares. Alexander predicted margins will rise from 2.9 percent in fiscal 2011 to over 3.25 percent in the second half of fiscal 2012 and 3.5 percent or greater in fiscal 2013 — changes that could benefit its bottom line in fiscal 2012 and 2013. The analyst said that at Flextronics' analyst day on Tuesday the company said it expects to phase out its business of making PCs for other companies by the end of this year. The PC business has been losing $20 ...

Full article: http://sg.news.yahoo.com/flextronics-shares-rise-analyst-...

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