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SLR: Solectron Shares Flying After Target Price Boosts

After announcing Monday that it topped its fourth-quarter estimates by a penny, Solectron's (SLR) shares were getting a boost from investment firms today raising their price targets on the stock.

Merrill Lynch

upped its 12-month price target on Solectron to $70 from $60 saying the stock is an "exceptional value at current levels." Merrill also raised the company's revenue estimates for 2001 by $175 million to $20.58 billion, while maintaining their earnings-per-share estimates of $1.16 for the next year.

Credit Suisse First Boston

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analyst Herve Francois also raised Solectron's 2001 EPS estimate to $1.17 from $1.13, while raising the contract electronics maker price target to $60.

Solectron was recently trading up $1.88, or 4.08%, to $47.88.