James Ricchiuti, an analyst from Needham, reiterated the Buy rating on TTM Technologies. The associated price target was raised to $56.00.
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James Ricchiuti has given his Buy rating due to a combination of factors that highlight TTM Technologies’ strong performance and promising outlook. The company reported significantly better-than-expected second-quarter revenues and earnings per share, largely driven by its aerospace and defense, as well as data center sectors, alongside strong results in other commercial markets.
Furthermore, TTM Technologies has provided an optimistic forecast for the third quarter, with expectations of accelerated growth in the data center segment. The company anticipates a 15% year-over-year revenue increase at the midpoint, surpassing consensus estimates, and has also offered favorable earnings guidance. Additionally, management foresees robust growth in four out of five major verticals, prompting an upward revision of estimates for 2025 and 2026. These factors collectively underpin the Buy recommendation.
In another report released on July 16, B.Riley Financial also maintained a Buy rating on the stock with a $50.00 price target.