What Happened?
Shares of global manufacturing solutions provider Flex (NASDAQ: FLEX) jumped 3.1% in the afternoon session after Bank of America Securities raised its price target on the company's stock to $65.00 from $58.00 while maintaining a "Buy" rating. The revised target from analyst Ruplu Bhattacharya represented a 12.07% increase and reflected continued confidence in the company's performance.
After the initial pop the shares cooled down to $59.13, up 3.3% from previous close.
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What Is The Market Telling Us
Flex’s shares are somewhat volatile and have had 14 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 28 days ago when the stock gained 2.6% as renewed investor enthusiasm for the artificial intelligence boom was sparked by a strong forecast from a major cloud provider.
The optimism was ignited by Oracle, which jumped 30% after forecasting a massive increase in AI-powered cloud revenue. This outlook overshadowed the company's recent earnings miss and reinforced investor confidence in the long-term AI trend, benefiting companies that provide critical infrastructure for artificial intelligence. Underscoring the bullish sentiment, investment bank Barclays raised its year-end S&P 500 target, citing resilient economic growth and continued investor excitement for AI as key drivers for the market's strength.
Flex is up 53.1% since the beginning of the year, and at $59.13 per share, it is trading close to its 52-week high of $59.33 from September 2025. Investors who bought $1,000 worth of Flex’s shares 5 years ago would now be looking at an investment worth $4,851.
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