Positive Outlook for TTM Technologies Driven by Strong AI Supply Chain Performance and Defense Business Growth

Analyst James Ricchiuti from Needham reiterated a Buy rating on TTM Technologies (TTMI – Research Report) and increased the price target to $43.00 from $35.00.

James Ricchiuti’s rating is based on several key factors that contribute to a positive outlook for TTM Technologies. The recent series of favorable earnings reports from companies within the AI supply chain have strengthened the near-term outlook for TTM. Additionally, the current geopolitical climate is expected to enhance the long-term prospects of TTM’s defense business, which already shows strong performance.
Moreover, TTM Technologies has a clear revenue visibility, with approximately 80% of its revenues in 2025 being driven by a solid backlog in Aerospace & Defense and ongoing growth in Data Center Computing. The potential for the new Penang facility to reach break-even by the third quarter could further boost profits. Even without this development, the existing business strength is anticipated to enable TTM to meet or exceed expectations.

In another report released on June 16, Stifel Nicolaus also reiterated a Buy rating on the stock with a $40.00 price target.