Sanmina price target lowered to $62 from $76 at Craig-Hallum

Craig-Hallum lowered the firm’s price target on Sanmina to $62 from $76 and keeps a Buy rating on the shares. The firm notes Sanmina reported Q4 results and guided Q1 below expectations. The lower-than-expected results and guidance are primarily being driven by inventory corrections at the company’s Communication Networks customer base.