Needham & Company Upgrades TTMI (TTMI) To 'Strong Buy' On Material Pullback In Stock Despite Checks
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Price: $140.00 +0.81%
Rating Summary:
9 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
9 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company upgraded TTMI (NASDAQ: TTMI) from Buy to Strong Buy. PT $21.
Needham analyst says, "At the risk of angering the gods of summer vacation, weak derivative calls, and plummeting skies, we are upgrading TTMI to Strong Buy and reiterating our $21 target based on 12x our C11 EPS of $1.75. TTMI remains one of the best run companies in our universe, and boasts an impressive customer list with some of the leading players in tech, all while operating at the vanguard of a highly consolidated space. In our view, any opportunity to pick up such a high-quality company at such a discount should be seized upon."
"Our forecast for 2Q11 is $355M in revenue and $0.40 EPS, which excludes options and non-cash interest expense. Guidance was $350-370M, GM 21-23% and $0.36-0.45 EPS."
For more ratings news on TTMI click here and for the rating history of TTMI click here.
Shares of TTMI closed at $13.37 yesterday.
Needham analyst says, "At the risk of angering the gods of summer vacation, weak derivative calls, and plummeting skies, we are upgrading TTMI to Strong Buy and reiterating our $21 target based on 12x our C11 EPS of $1.75. TTMI remains one of the best run companies in our universe, and boasts an impressive customer list with some of the leading players in tech, all while operating at the vanguard of a highly consolidated space. In our view, any opportunity to pick up such a high-quality company at such a discount should be seized upon."
"Our forecast for 2Q11 is $355M in revenue and $0.40 EPS, which excludes options and non-cash interest expense. Guidance was $350-370M, GM 21-23% and $0.36-0.45 EPS."
For more ratings news on TTMI click here and for the rating history of TTMI click here.
Shares of TTMI closed at $13.37 yesterday.
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