Avnet jumps after Truist upgrades to Buy, lifts target to $80
Avnet shares are higher as investors react to a fresh Truist Securities upgrade to Buy from Hold with a price target raised to $80 from $65. The call also lifted Truist’s calendar 2027 EPS estimate to $7.95 from $6.83, supporting expectations for stronger earnings power.
1. What’s moving the stock today
Avnet (AVT) is trading higher after Truist Securities upgraded the stock to Buy from Hold and raised its price target to $80 from $65. The upgrade also included a higher calendar 2027 EPS estimate of $7.95 versus $6.83, giving the market a clearer fundamental rationale for paying up for the shares.
2. Why the call matters
For a cyclical electronics distributor, upgrades tend to have the biggest impact when they coincide with improving expectations for the next up-cycle rather than just a single quarter. By explicitly raising 2027 profit expectations, the note frames AVT as a multi-year earnings recovery story, which can draw in longer-horizon buyers and re-rate the multiple.
3. What to watch next
The next major checkpoint is Avnet’s upcoming earnings report scheduled for May 6, 2026, when investors will look for confirmation that demand conditions and margins are tracking toward the longer-dated earnings power implied by the upgrade. Any commentary on components availability, pricing, and regional demand trends will likely determine whether the rally extends or consolidates.