Plexus' Strength In Commercial Aerospace To Outweigh Demand Issues In Industrial And Healthcare Life Science Market: Analyst
Portfolio Pulse from Nabaparna Bhattacharya
Needham analyst James Ricchiuti has reiterated a Buy rating on Plexus Corp (NASDAQ:PLXS), raising the price target to $107 from $105. Despite mixed demand in its Industrial and Healthcare Life Science market verticals, Plexus' strength in commercial aerospace is expected to outweigh these issues. The company's Q4 revenue guidance is flat sequentially and down 9% Y/Y. Ricchiuti has trimmed Q4 GAAP EPS estimate to $1.26 from $1.39, with revenue now forecast at $1.020 billion.
July 28, 2023 | 6:21 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Plexus Corp's strength in commercial aerospace is expected to outweigh demand issues in its Industrial and Healthcare Life Science markets. The company's Q4 revenue guidance is flat sequentially and down 9% Y/Y. The analyst has trimmed Q4 GAAP EPS estimate to $1.26 from $1.39, with revenue now forecast at $1.020 billion.
The analyst's reiteration of a Buy rating and increase in price target indicates a positive outlook for Plexus Corp. However, the trimming of Q4 GAAP EPS estimate and revenue forecast due to mixed demand in certain sectors may create uncertainty in the short term. The company's strength in commercial aerospace is expected to balance these issues.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100