Truist analyst William Stein upgraded TTM Technologies to Buy from Hold with a price target of $16.50, up from $16. TTM delivered its second quarter of improving margins that make the company’s path to 11%-13% operating margin more believable, the analyst tells investors in a research note. The firm says the company’s restructuring plans that include plant closures, cost recoveries, ramping a new plant in Penang and other activities imply a 13% margin in the medium-term and an 11.7% margin in 2024. It cites improving execution for the upgrade.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on TTMI:
- TTM Technologies, Inc. announces the State of New York as the Selected Location for a Proposed New Facility in Syracuse to Produce Ultra-HDI PCBs in Support of National Security Requirements
- TTM Technologies announces State of New York selected location for facility
- TTM Technologies, Inc. Reports Fiscal Third Quarter 2023 Results
- TTM Technologies sees Q4 EPS 34c-40c, consensus 30c
- TTM Technologies reports Q3 EPS 43c, consensus 27c
