Benchmark Electronics (BHE): Raising PT - Needham
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Needham & Company analyst, Sean Hannan, reiterated his Buy rating on shares of Benchmark (NYSE: BHE) but raised his price target to $28 from $26 now that new leadership is at the helm.
BHE intends to continue its prior strategy for reinvigorating growth, achieving margin expansion and delivering more acceptable working capital management, more appropriate for their mix of business. Overall, estimates do not change considerably, but the analyst acknowledges that the company is on the right path for better internal execution in addition to building on an increasingly healthy revenue portfolio.
Shares of Benchmark closed at $24.90 yesterday.
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