Avnet price target raised to $58 from $52 at Truist

Truist analyst William Stein raised the firm’s price target on Avnet (AVT) to $58 from $52 and keeps a Hold rating on the shares. The company’s Q1 results topped estimates on strength in components revenue and operating margins, though its Q2 guide was mixed as further revenue upside doesn’t seem to translate to ongoing margin improvement, the analyst tells investors in a research note.