Plexus upgraded to Buy from Hold at Stifel

Stifel upgraded Plexus (PLXS) to Buy from Hold with a price target of $250, up from $200. The firm believes the supply chain sector is “entering a period of simultaneous multi-company earnings inflection.” This will be driven by “structural tailwinds” of the AI infrastructure build-out, defense modernization, and an accelerating recovery in semiconductor capital equipment, the analyst tells investors in a research note. Stifel believes Plexus has entered a “multi-sector revenue inflection” across aerospace and defense, healthcare, and semicap, supported by its engineering-led model that “creates stickier, higher-margin program wins.”