TTM Technologies price target raised to $40 from $33 at Stifel

Stifel analyst Ruben Roy raised the firm’s price target on TTM Technologies (TTMI) to $40 from $33 and keeps a Buy rating on the shares after having recently hosted President and CEO Thomas Edman at the firm’s CSI Conference. The firm remains positive on shares given expectations for continued strength from the company’s Aerospace & Defense and Data Center end markets, says the analyst, who also points out that management noted that its Networking business, which had been regarded as a legacy customer business, is growing again, including an AI related uptick. Following the meetings, the firm is “modestly” raising its estimates, which the analyst says were “previously skewed conservative given stronger than typical performance” in the recently reported Q1.