Needham & Company Reiterates a 'Buy' on Sanmina-SCI (SANM); Better Than Feared as Long-Term Optimism Remains
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Price: $210.84 +2.07%
Rating Summary:
5 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
5 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Buy' on Sanmina-SCI Corp. (NASDAQ: SANM) price target of $11.00 (from $13.00).
Analyst, Sean K.F. Hannan, said, "The macro environment is presenting challenges for all of EMS, and we believe the impacts are leading to subdued growth in most of SANM’s traditional assembly business as well as (perhaps more notably) in its Components businesses. To our positive surprise, guidance from SANM calls for sequential improvement, which we believe is a function of healthy new business development in addition to diversification efforts into higher-technology solutions with better growth sub-segments. While we remain mindful of macro challenges and a generally sluggish environment, we do view SANM as undervalued at current levels with margin expansion opportunities ahead."
FY12 EPS estimate lowered from $1.18 to $1.16 and FY13 from $1.62 to $1.39.
For an analyst ratings summary and ratings history on Sanmina-SCI Corp. click here. For more ratings news on Sanmina-SCI Corp. click here.
Shares of Sanmina-SCI Corp. closed at $7.18 yesterday.
Analyst, Sean K.F. Hannan, said, "The macro environment is presenting challenges for all of EMS, and we believe the impacts are leading to subdued growth in most of SANM’s traditional assembly business as well as (perhaps more notably) in its Components businesses. To our positive surprise, guidance from SANM calls for sequential improvement, which we believe is a function of healthy new business development in addition to diversification efforts into higher-technology solutions with better growth sub-segments. While we remain mindful of macro challenges and a generally sluggish environment, we do view SANM as undervalued at current levels with margin expansion opportunities ahead."
FY12 EPS estimate lowered from $1.18 to $1.16 and FY13 from $1.62 to $1.39.
For an analyst ratings summary and ratings history on Sanmina-SCI Corp. click here. For more ratings news on Sanmina-SCI Corp. click here.
Shares of Sanmina-SCI Corp. closed at $7.18 yesterday.
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