Needham & Company Reiterates a 'Buy' on Plexus (PLXS) on Valuation; Adjusting Estimates Ahead Of Reports, Considering Spotty Demand Environment
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Price: $273.36 +2.23%
Rating Summary:
8 Buy, 3 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 20
Rating Summary:
8 Buy, 3 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 20
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Needham & Company reiterates a 'Buy' on Plexus (NASDAQ: PLXS) price target cut from $37 to $32.
Needham analyst says, "Despite some softness that may be materializing in the broader macro environment, we continue to believe that PLXS remains a growth story in the medium-term that will be driven by Coca-Cola (NYSE: KO) (Not/Rated) and other new programs. Thus, we view shares as attractive and reiterate Buy but lower target...Our model is corrected for int. expense and the possibility of a dampened environment. F4Q becomes $545M & $0.52 (vs. our prior $545M & $0.55). F1Q now $560M & $0.53 vs. our prior $575M & $0.60. Pairing back F12 to $2.4B & $2.48 from $2.45B & $2.76 (conservatively assuming nearly a full $200M contribution from Coke and marginal net growth in the rest of the company’s business)."
For more ratings news on Plexus click here and for the rating history of Plexus click here.
Shares of Plexus closed at $27.73 yesterday.
Needham analyst says, "Despite some softness that may be materializing in the broader macro environment, we continue to believe that PLXS remains a growth story in the medium-term that will be driven by Coca-Cola (NYSE: KO) (Not/Rated) and other new programs. Thus, we view shares as attractive and reiterate Buy but lower target...Our model is corrected for int. expense and the possibility of a dampened environment. F4Q becomes $545M & $0.52 (vs. our prior $545M & $0.55). F1Q now $560M & $0.53 vs. our prior $575M & $0.60. Pairing back F12 to $2.4B & $2.48 from $2.45B & $2.76 (conservatively assuming nearly a full $200M contribution from Coke and marginal net growth in the rest of the company’s business)."
For more ratings news on Plexus click here and for the rating history of Plexus click here.
Shares of Plexus closed at $27.73 yesterday.
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