Merrill Lynch Sticks to Their Hold Rating for Arrow Electronics
Merrill Lynch analyst Ruplu Bhattacharya reiterated a Hold rating on Arrow Electronics (NYSE:ARW) on Tuesday, setting a price target of $73, which is approximately 17.01% above the present share price of $62.39.
Bhattacharya expects Arrow Electronics to post earnings per share (EPS) of $1.37 for the second quarter of 2020.
The current consensus among 7 TipRanks analysts is for a Hold rating of shares in Arrow Electronics, with an average price target of $70.5.
The analysts price targets range from a high of $80 to a low of $65.
In its latest earnings report, released on 12/31/2019, the company reported a quarterly revenue of $7.34 billion and a net profit of $237.51 million. The company's market cap is $4.8 billion.
According to TipRanks.com, Merrill Lynch analyst Ruplu Bhattacharya is a 3-star analyst with an average return of 5.0% and a 45.5% success rate.
Arrow Electronics, Inc. is a provider of products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions. It operates through two segments: Global Components Business and Global Enterprise Computing Solutions. The Global Components segment involves in the marketing and distribution of electronic components and provides a range of value added capabilities throughout the entire life cycle of technology products and services through design engineering, global marketing, and integration, global logistics and supply chain management. The Global Enterprise Computing Solutions segment provides computing solutions, and services which include datacenter, cloud, security, and analytics solutions. The company was founded by Robert W. Wentworth and John C. Waddell in 1946 and is headquartered in Centennial, CO.
