Multi-Fineline Electronix (MFLX),� the flexible circuit� board company that doesn’t know how to spell “electronics,” is trading sharply higher this morning despite a mixed March quarter, after Needham analyst Richard Kugele upped his rating on the shares to Buy from Hold, setting a $28 price target.
“We believe that MFLX has finally reached the other side of the tunnel, and now is well positioned to benefit from the robust new product ramps at its major customers,” he writes in a research note. “We have been waiting for visibility into these ramps to improve at a time when valuation was equally compelling�that time has arrived.”
MFLX this morning is up $2.43, or 10.5%, to $25.61.
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