Brean Murray Reiterates Buy On Avnet (AVT)

Brean Murray Carret & Co. is reiterating its Buy rating and $40 price target on shares of Avnet Inc. (NYSE: AVT).

In a note sent to investors, Brean Murray writes, "Our Buy thesis remains absolutely intact after attending Avnet's analyst day in NYC yesterday – in fact if anything, we remain even more so comfortable with our L-T thesis of 1) revenue upside both organically and from ongoing acquisitions and 2) ongoing operating margin expansion. Avnet also reaffirmed its Dec Q guidance (revenue of $6.3B -$7.0B, EPS of $0.99-$1.07)."

Shares of AVT lost 64 cents yesterday to close at $32.46.