Plexus (PLXS) PT Raised to $60 at Deutsche Bank Following 1Q

Deutsche Bank raised its price target on Plexus (NASDAQ: PLXS) to $60.00 (from $54.00) while maintaining a Hold rating following the company's 1Q earnings report. PLXS reported F1Q-18 results and F2Q-18 guidance that missed expectations due to lower-than-expected sales and margin pressures from new program ramps.

Healthcare/ Life Sciences (HC/LS) beat expectations and grew 2% Q/Q, due to new program ramps with two large customers. In Industrial/ Commercial (I/C), end-market demand and share gains in semi cap equipment drove better-thanexpected growth of 10% Q/Q. F1Q-18 sales missed Consensus due to continued end-market weakness in Communications and Aerospace/Defense. The Aerospace/Defense segment fell 7% Q/Q on weakness in security and new program headwinds.

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