Sanmina (SANM) Target, Estimate Lifted at Needham & Company Post Q2

Needham & Company analyst Sean Hannan reiterated a Buy rating and boosted his price target on Sanmina-SCI Corp. (NASDAQ: SANM) from $19 to $22 following solid Q2 results with an improving outlook.

Hannan said, "In our view, SANM is benefiting from a generally healthy EMS environment, modestly improving customer markets and positive outsourcing trends. With an improving 2HF14 outlook, a levered operating model, new business win momentum and a supportive buyback in place, we continue to expect healthy double-digit earnings growth."

F3Q14 now $1.55B in revs. & $0.47. F14 now $6.05B & $1.80, vs. prior $5.97B & $1.69. F15 estimates now $6.31B and $1.97 vs. prior $6.22B and $1.82.

For an analyst ratings summary and ratings history on Sanmina-SCI Corp. click here. For more ratings news on Sanmina-SCI Corp. click here.

Shares of Sanmina-SCI Corp. closed at $18.26 yesterday.

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