Arrow Electronics Reports Solid 4Q Revenue; Maintain $80 FVE
Arrow Electronics reported strong fourth-quarter results, with revenue slightly ahead of our forecast but with some gross margin and operating margin contraction when compared with the year-ago period. We will maintain our $80 fair value estimate and our no-moat rating for Arrow. There continues to be solid growth opportunities for Arrow, particularly in the Internet of Things market where Arrow is making considerable investment. Shares remain solidly in three-star price territory and we suggest...
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