David Williams, an analyst from Benchmark Co., reiterated the Buy rating on Plexus (PLXS – Research Report). The associated price target remains the same with $160.00.
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David Williams has given his Buy rating due to a combination of factors that highlight Plexus’s strategic financial maneuvers and growth potential. The company has recently authorized a new $100 million share-repurchase program, which is an aggressive move to enhance shareholder value. This decision follows significant buybacks earlier in the year, indicating management’s confidence in the company’s valuation and future prospects.
Furthermore, Plexus’s strong balance sheet and robust cash generation capabilities support its commitment to share repurchases, which are expected to contribute approximately $0.30 in annualized earnings power. Williams also anticipates sequential revenue growth in the latter half of the fiscal year, driven by expansion across various market sectors, stable operating margins, and increasing earnings. These factors collectively justify the Buy rating and the $160 price target.
Williams covers the Technology sector, focusing on stocks such as IonQ, Rigetti Computing, and Belden. According to TipRanks, Williams has an average return of 24.8% and a 50.46% success rate on recommended stocks.