Needham & Company Reiterates a 'Buy' on Sanmina-SCI (SANM); Near-Term Outlook Below Street, But Longer-Term Model Improving

Needham & Company reiterates a 'Buy' on Sanmina-SCI Corp. (NASDAQ: SANM) price target of $16.

Needham analyst says, "SANM continues to improve its model as demonstrated through its recent refinancing. Further aided by generally stable (albeit not robust) demand, improving Components and utilization, we expect profitability to rise notably in coming quarters even on conservative top-line growth."

"Adjusting estimates. F4Q11 becomes $1.675B in revs. and $0.42. vs, prior $1.73B and $0.44. F11 now $6.58B and $1.59, vs. previous $6.61B & $1.53. We view estimates as conservative."

For more ratings news on Sanmina-SCI Corp. click here and for the rating history of Sanmina-SCI Corp. click here.

Shares of Sanmina-SCI Corp. closed at $9.22 yesterday.

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