Analyst James Ricchiuti of Needham reiterated a Buy rating on TTM Technologies (TTMI – Research Report), boosting the price target to $35.00.
James Ricchiuti has given his Buy rating due to a combination of factors that highlight TTM Technologies’ strong performance and promising outlook. The company has shown remarkable growth at the start of 2025, particularly in the Aerospace & Defense and Data Center Computing sectors, which together account for a significant portion of its business. TTM Technologies exceeded expectations in the first quarter, with both revenue and earnings per share surpassing the upper limits of guidance.
Furthermore, the company has demonstrated resilience against recent tariffs, with minimal impact on its revenue and only slight challenges from raw material and equipment imports. The demand for TTM’s offerings remains robust, as reflected in their optimistic guidance for the second quarter. The company anticipates continued strong growth across most of its major verticals, prompting an upward revision of estimates for 2025 and 2026.