Needham & Company Reiterates a 'Buy' on Plexus (PLXS); Program Wins, Lean OEM Inventories & Compelling Valuation
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Price: $267.41 +1.28%
Rating Summary:
8 Buy, 3 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
8 Buy, 3 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Buy' on Plexus (NASDAQ: PLXS) price target lowered $2 to $30.
Needham analyst says, "PLXS is not immune to the challenging economic malaise, and its reduced forecasts are reflecting this dynamic, which we believe could prove to be a short-term speed bump as OEM inventories are incredibly lean and end-demand trends are NOT following the same path as 2008. Despite the disappointing and cloudy (“pragmatic”) outlook, PLXS remains one of the highest quality names in our universe with a solid portfolio of diverse customers and a strong pipeline of new programs in waiting. Consequently, we still view shares as attractive at current levels...For Dec., model now $525M & $0.46, vs. prior $560M & $0.51. F12 becomes $2.32B & $2.32, vs. prior $2.38B & $2.41. introducing F13 of $2.54B & $2.72."
For more ratings news on Plexus click here and for the rating history of Plexus click here.
Shares of Plexus closed at $25.02 yesterday.
Needham analyst says, "PLXS is not immune to the challenging economic malaise, and its reduced forecasts are reflecting this dynamic, which we believe could prove to be a short-term speed bump as OEM inventories are incredibly lean and end-demand trends are NOT following the same path as 2008. Despite the disappointing and cloudy (“pragmatic”) outlook, PLXS remains one of the highest quality names in our universe with a solid portfolio of diverse customers and a strong pipeline of new programs in waiting. Consequently, we still view shares as attractive at current levels...For Dec., model now $525M & $0.46, vs. prior $560M & $0.51. F12 becomes $2.32B & $2.32, vs. prior $2.38B & $2.41. introducing F13 of $2.54B & $2.72."
For more ratings news on Plexus click here and for the rating history of Plexus click here.
Shares of Plexus closed at $25.02 yesterday.
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