Needham & Company Reiterates a 'Buy' on Plexus (PLXS); Reports Solid F1Q With Slight Earnings Upside & Healthy Guidance

Needham & Company reiterates a 'Buy' on Plexus (NASDAQ: PLXS) price target raised from $31 to $38.

Needham analyst says, "PLXS is starting to see a return of revenue momentum in addition to a more tangible path toward margin expansion over the next 12 months. Buoyed by multiple periods of healthy new program wins (which we believe are continuing), we are gaining greater conviction that PLXS could see a return to double-digit growth in late 2012."

"For March, model now $565M & $0.54, vs. prior $570M & $0.58. F12 becomes $2.32B & $2.40, vs. prior $2.35B & $2.40. F13 of $2.55B & $2.75 now $2.56B & $2.75."

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 $36.50 yesterday.

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