Sanmina price target raised to $180 from $150 at BofA

BofA analyst Ruplu Bhattacharya raised the firm’s price target on Sanmina (SANM) to $180 from $150 and keeps a Neutral rating on the shares after a “strong” fiscal Q4 report. Positives, including the communications end market coming out of inventory correction and ZT Systems providing full rack assembly capability, are balanced by the uncertain macro backdrop and Sanmina having to integrate the ZT business and then ramp with AMD (AMD), the analyst tells investors in a post-earnings note.