Plexus Corp (PLXS) Misses Q3 EPS by 1c; Q4 Guidance Falls Short

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Go back to Plexus Corp (PLXS) Misses Q3 EPS by 1c; Q4 Guidance Falls Short

Needham & Company Cuts Price Target on Plexus Corp (PLXS) Following 3Q15

July 24, 2015 7:28 AM EDT

Needham & Company reiterated a Strong Buy rating on Plexus (NASDAQ: PLXS), and cut the price target to $46.00 (from $50.00), following 3Q15 results. Revenues of $670M and EPS of $0.69 were consistent with the pre-announcement for $670M and $0.67-0.70. consensus at the time was $686M in revenue and $0.76 EPS.

Analyst Sean Hannan commented, "While Networking... More