Needham analyst James Ricchiuti reiterated a Buy rating on TTM Technologies today and set a price target of $79.00.
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James Ricchiuti has given his Buy rating due to a combination of factors influencing TTM Technologies’ growth prospects. The company’s momentum in the Data Center Computing sector is expected to continue as a significant growth driver, particularly with the expansion of capacity at its advanced PCB factories in China. This growth is anticipated to be robust through 2026, supported by encouraging yield reports from their Penang operations, although the growth trajectory does not solely depend on this ramp-up.
Additionally, Ricchiuti notes multiple growth opportunities in the Aerospace and Defense sector over the next couple of years, with stable organic growth and potential mergers and acquisitions. The new CEO, Edwin Roks, is seen as a positive influence, with a focus on enhancing the value of PCBs and components in both the Aerospace and Defense and Commercial sectors, leveraging his strong background in technology and engineering. These factors collectively underpin the Buy rating and the increased price target.
In another report released on November 10, Stifel Nicolaus also maintained a Buy rating on the stock with a $72.00 price target.