Raymond James Upgrades Plexus (PLXS) to Outperform
Get Alerts PLXS Hot Sheet
Rating Summary:
6 Buy, 4 Hold, 2 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 15 | Down: 11 | New: 13
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Raymond James upgraded Plexus (NASDAQ: PLXS) from Market Perform to Outperform with a price target of $43.00.
Analyst Brian Alexander said, "We are upgrading PLXS to Outperform from Market Perform as 1) revenue growth has resumed a strong double-digit pace due to solid program wins/regional expansion, 2) margins should bottom in December and improve sequentially through FY15 as facility expansion costs wane, 3) free cash flow should bounce back in FY15 to +$100 million (from $23 million in FY14) due to lower cap ex and working capital, and 4) the stock has lagged EMS peers this year (-14% vs. group average of +8%)."
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 $35.46 yesterday.
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