Why is Flex stock climbing today?

Flex stock rose 2.7% in pre-open trading today after BofA Securities issued a note reiterating its Buy rating on the shares while lowering its price target to $150 from $180, citing valuation adjustments following a sharp multi-week selloff. The bank argued that the pullback — which had left the stock roughly 54% below its 52-week high of $166.86 — was overdone, effectively framing the current price level as a buying opportunity ahead of a pivotal earnings event.

The BofA note underpins a broader pre-earnings setup that is adding momentum to the stock. Flex is scheduled to release its fiscal second-quarter 2027 results before the market opens on Wednesday, October 28, with the Street expecting earnings of approximately $1.05 per share — a roughly 32.9% year-over-year increase — and revenue of around $8.18 billion. Analysts have pointed to the company’s Cloud and Power Infrastructure segment, which has been benefiting from surging AI-related demand, as the primary growth engine for the quarter.

On the institutional front, a fresh SEC disclosure revealed that Deltec Asset Management grew its FLEX position by over 40% during the third quarter, a signal of continued confidence among professional investors even as the stock has pulled back sharply from its highs. Meanwhile, the broader U.S. equity market is providing a stable, if unenthusiastic, backdrop, with the S&P 500, Dow Jones, and Nasdaq all hovering near the flat line in pre-market.

Together, the combination of a high-profile analyst reaffirmation of the bullish thesis, institutional accumulation, and speculative positioning ahead of tomorrow’s earnings report has been enough to lift FLEX off its recent lows and generate today’s pre-market advance.