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Needham & Company Upgrades Plexus (PLXS) to Strong Buy

December 16, 2014 6:34 AM EST
Get Alerts PLXS Hot Sheet
Price: $94.82 +1.56%

Rating Summary:
    6 Buy, 4 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Needham & Company upgraded Plexus (NASDAQ: PLXS) from Buy to Strong Buy with a price target of $47.00.

Analyst Sean K.F. Hannan comments, "As we step back and assess the recent performance of our EMS universe and attempt to put this into context with tangible fundamentals in terms of business momentum and opportunities, we believe PLXS is the best positioned name for strong performance in the near and medium term as we enter 2015. Overall, we believe few within the industry would provide much push-back on the strength of PLXS’ mix and business profile, strategy and execution. Observing a robust pipeline of new business and as we gain greater confidence in margin improvement back to the historical 10%/5%/5% op. model, we see shares as notably undervalued and we upgrade PLXS to Strong Buy."

The firm calls it its Top EMS/tech pick entering 2015.

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 $37.45 yesterday.



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