UPDATE: JPMorgan Downgrades Plexus (PLXS) to Neutral
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JPMorgan analyst Paul Coster downgraded Plexus (NASDAQ: PLXS) from Overweight to Neutral with a price target of $78.00.
The analyst comments "Downgrade to Neutral. PLXS is trading at ~15.8x our CY21E EPS and ~10x CY21E EV/EBITDA, ~6%/15% respective premiums to the three-year mean though at a discount on a PEG basis. We think the stock is fairly valued here and expect the stock to perform in line with the mean of our coverage universe over the next 6-12 months."
Shares of Plexus closed at $79.31 yesterday.
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