Needham & Company Upgrades Plexus (PLXS) to Buy

Needham & Company upgraded Plexus (NASDAQ: PLXS) from Hold to Buy with a price target of $47.00.

Analyst Sean K.F. Hannan comments, "Considering a solid F2Q result, healthy above-consensus guidance, and general strengthening in customer forecasts and demand, we are upgrading PLXS from Hold to Buy. Overall, we view PLXS as a company with the best model and execution within our EMS coverage space. With traction from new programs, operating improvements and an ongoing (albeit small) buyback in place, we see good momentum to earnings growth and believe that such a high quality name in the space deserves its premium."

For an analyst ratings summary and ratings history on Plexus click here. For more ratings news on Plexus click here.

Shares of Plexus closed at $43.52 yesterday.

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