UPDATE: JPMorgan Upgrades TTM Technologies (TTMI) to Overweight
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JPMorgan analyst Paul Coster upgraded TTM Technologies (NASDAQ: TTMI) from Neutral to Overweight with a price target of $16.00 (from $13.00).
The analyst comments "Trading at 11.1 times 2020 P/E and 7.0 times EV/EBITDA the stock is trading at a premium to its three-year mean forward multiples, but inexpensive on a PEG basis, and in the context of a re-rating that could take place as the firm pays down debt. We expect TTMI to perform outperform the mean of our coverage in the next 6 – 12 months."
Shares of TTM Technologies closed at $13.79 yesterday.
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