UPDATE: S&P Capital IQ Reiterates Hold Rating, Raises PT on Flextronics International Ltd. on Trimmed Operating EPS Estimate

In a report published Thursday, S&P Capital IQ analyst A. Zino reiterated a Hold rating on

, and raised the price target from $9.50 to $10.00. In the report, S&P Capital IQ noted, “We trim our FY 14 (Mar.) operating EPS estimate by $0.01 to $0.86 and FY 15's by $0.06 to $1.03. We set FY 16's at $1.13. We raise our 12-month target to $10 from $9.50, reflecting a P/E near peers. We see growth being driven from its high-velocity solutions business, as smartphone end-demand steadily improves and JBL benefits from a strong position within Google's (GOOG 1,203, Hold) hardware supply chain. We see stable revenue across FLEX's other businesses. We also see potential upside to consensus EPS estimates given planned cost reductions and aggressive share repurchases.” Flextronics International Ltd. closed on Wednesday at $9.37.