Zacks Investment Research upgraded shares of ARROW ELECTRONICS, INC. (ARW) from UNDERPERFORM to NEUTRAL on September 21, 2012, with a target price of $36.00.
We are upgrading our recommendation on Arrow from Underperform to Neutral. Arrow is likely to witness reasonable growth prospects in the quarters ahead due to its superior technology, reliable global distribution. Arrow's recent acquisitions are also likely to heighten its revenue stream in the upcoming quarters. Additionally, the company's cost effective strategy, and share repurchase initiatives are also likely to positively impact on its business. However, the competitive strides in the industry and foreign exchange risk may have detrimental impact on the company. Management is also concerned about the macro-economic challenges, which may hurt the company's financial performances in future.
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