In a report released today, Vanessa Jeffriess from Jefferies maintained a Hold rating on TT Electronics, with a price target of p110.00.
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Vanessa Jeffriess has given his Hold rating due to a combination of factors, including TT Electronics’ mixed trading performance and limited near‑term catalysts for the share price. The latest AGM update shows that while underlying sales excluding site transfers are modestly growing and aerospace and defense demand is supportive, overall reported revenues are still contracting and end‑markets for the EMS division remain subdued.
In addition, the benefits from the cost‑saving program, though progressing as planned, will not materially flow through until FY26, and management is still reviewing strategic options for the Components business, adding an element of uncertainty. As a result, consensus forecasts are expected to stay broadly unchanged and meaningful upside in the shares is unlikely before the next company update in September, supporting a neutral stance and an unchanged $110 price target.
Vanessa Jeffriess has given his Hold rating due to a combination of factors, including TT Electronics’ mixed trading performance and limited near‑term catalysts for the share price. The latest AGM update shows that while underlying sales excluding site transfers are modestly growing and aerospace and defense demand is supportive, overall reported revenues are still contracting and end‑markets for the EMS division remain subdued.
In addition, the benefits from the cost‑saving program, though progressing as planned, will not materially flow through until FY26, and management is still reviewing strategic options for the Components business, adding an element of uncertainty. As a result, consensus forecasts are expected to stay broadly unchanged and meaningful upside in the shares is unlikely before the next company update in September, supporting a neutral stance and an unchanged $110 price target.