Deutsche Bank Downgrades Plexus (PLXS) to Hold

October 26, 2012 7:00 AM EDT Send to a Friend
Get Alerts PLXS Hot Sheet
Price: $40.78 -1.07%

Rating Summary:
    3 Buy, 5 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 12 | Down: 23 | New: 21
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Deutsche Bank downgraded Plexus (NASDAQ: PLXS) from Buy to Hold with a price target of $27.00 (from $37.00).

The firm comments: "PLXS reported a mixed F4Q-12, but guidance was significantly worse than expected on broad-based demand weakness. With networking unlikely to improve in the near term, and Coke business likely to be subdued on inventory work downs, we no longer see positive catalysts for the shares and are downgrading to Hold from Buy. Longer term, we continue to view PLXS as a well-run, high-margin and high-growth EMS company, but believe demand weakness in end markets will keep the shares range bound in the near term."

For an analyst ratings summary and ratings history on Plexus click here. For more ratings news on Plexus click here.

Shares of Plexus closed at $26.32 yesterday.

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