Needham & Company Reiterates Buy on Sanmina (SANM) Following Investor Meetings

Needham & Company reiterated a Buy rating and $27.00 price target on Sanmina-SCI Corp. (NASDAQ: SANM) following the company's investor meeting in Boston. SANM projected high confidence in current path and strategy of establishing itself as a high complexity product partner, and believes that the current pipeline is its strongest and highest quality in years.

Analyst Sean Hannan commented, "Despite what has been a generally challenging macro environment for much of the IT supply chain, we believe the tone from SANM management was fairly positive during investor meetings in Boston yesterday. Looking to F16 and F17, we believe mix will continue to transition toward more long-cycle business (i.e., industrial, medical, auto) and growing sub-markets (i.e., embedded computing) that will aid visibility and ultimately top and bottom line growth. Further, we suspect SANM's pipeline is in particularly healthy shape as it continues to win business in less-penetrated markets. Consequently, we reiterate our Buy."

For an analyst ratings summary and ratings history on Sanmina-SCI Corp. click here. For more ratings news on Sanmina-SCI Corp. click here.

Shares of Sanmina-SCI Corp. closed at $20.39 yesterday.

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