SMART Global Holdings (SGH) Could Report $9.50 in EPS LT, PT Raised to $65 at Jefferies
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Jefferies analyst Mark Lapacis raised the price target on SMART Global Holdings (NASDAQ: SGH) to $65.00 (from $56.00) after management set margin targets 500 bps above current levels and a rev growth target of high-single digits.
The analyst reiterated a Buy rating, stating "We think SGH P/E ratio expands as its Compute and LED segments grow and gross margins expand. With Mgmt LT growth targets and our estimates, we estimate 3-yr to 5-yr EPS power of $8.44-to-$9.49, implying an upside of 70%-to-100% above estimated NTM EPS of $4.71 through SGH's existing segments."
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