Plexus price target raised to $113 from $107 at Needham

Needham raised the firm’s price target on Plexus to $113 from $107 and keeps a Buy rating on the shares. The company generated better than expected margins that resulted in earnings coming in above the high end of guidance and above consensus, the analyst tells investors in a research note. The quarter marked a solid showing considering supply chain challenges, macro uncertainty, and a cyclical downturn in semi-cap – a key end-market, the firm added.