Benchmark Electronics price target raised to $46 from $35 at Lake Street

Lake Street raised the firm’s price target on Benchmark Electronics to $46 from $35 and keeps a Buy rating on the shares after the company reported revenue and EPS above estimates. While a cautious demand environment is still impacting multiple segments and the firm views 2024 as a transition year, it was “impressed by the strong outlook” for the Semi Cap and A&D segments and believes new program wins, share gains, and an improved demand environment should lead to a return to growth in 2025.