UPDATE 1-Workers at Apple supplier Flex's India plant stage one-day strike
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 16 2024
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Source: Yahoo Finance
- Workers at a manufacturing plant of Apple supplier Flex in India's Tamil Nadu state staged a one-day strike demanding higher wages and the recognition of a union.
- The workers, about 750 permanent employees, joined the Centre of Indian Trade Union due to dissatisfaction with wages and policies.
- Flex, which makes chargers for Apple, was unwilling to recognize the union at the plant.
- The strike did not include contractors who work at the plant.
- This is the latest unrest at an Apple supplier in India, following previous strikes at Foxconn and Wistron plants.
Analyst Views on FLEX
Wall Street analysts forecast FLEX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FLEX is 76.71 USD with a low forecast of 74.00 USD and a high forecast of 85.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
7 Analyst Rating
7 Buy
0 Hold
0 Sell
Strong Buy
Current: 64.720
Low
74.00
Averages
76.71
High
85.00
Current: 64.720
Low
74.00
Averages
76.71
High
85.00
About FLEX
Flex Ltd. is end-to-end manufacturing partner that helps brands design, build, deliver and manage products. Its capabilities include design and engineering, supply chain, manufacturing, post-production and post-sale services, and proprietary products. Its segments include Flex Agility Solutions (FAS) and Flex Reliability Solutions (FRS). The FAS segment consists of various end markets, such as Communications, Enterprise and Cloud, including data infrastructure, edge infrastructure and communications infrastructure; Lifestyle, including appliances, floorcare, smart living and power tools, and Consumer Devices, including mobile and high velocity consumer devices. The FRS segment consists of end markets, such as Automotive, including compute platforms, power electronics, motion, and interface; Health Solutions, including medical devices, medical equipment and drug delivery, and Industrial, including capital equipment, industrial devices, renewables, embedded and critical power.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
