UPDATE: Brean Murray Carret & Co. Lowers Arrow Electronics' PT

According to a research report published this morning, Brean Murray Carret & Co. has decreased Arrow Electronics' (NYSE: ARW) PT from $48 to $45.

Brean Murray Carret & Co. said in the report, "Softer Mar Q EPS and Jun Q guide although revenue for each were in‐line – softer than expected operating margins seem mostly due to mix with stronger performance in the Enterprise Computing Solutions (ECS) business. However, with overall revenue in‐line, the higher margin Electronic Components (EC) business was actually light vs. our revenue, so we'd argue top‐line was “de facto” a bit light as well."

Brean Murray Carret & Co. maintains its Buy rating on Arrow Electronics, which is currently trading at $38.32.