Stifel analyst Matthew Sheerin downgraded TTM Technologies to Hold from Buy with an unchanged price target of $17. The analyst sees risks to forward consensus sales and adjusted earnings estimates due to incremental weakness within the cloud and datacom markets as well as expectations of margin headwinds later this year, as the company ramps production at its new facilities in Malaysia. The firm reduced estimates for TTM’s computing and network/telecom segments on additional signs of weaker demand and an inventory correction across those markets.
Published first on TheFly
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