B. Riley raised the firm’s price target on TTM Technologies (TTMI) to $81 from $75 and keeps a Buy rating on the shares. The firm believes the company is seeing “increased and enduring” generative artificial intelligence-driven demand for its advanced printed circuit boards. This is being driven by high-capacity servers going into “gargantuan-sized” data centers globally, and particularly in the U.S., the analyst tells investors in a research note. Riley thinks AI infrastructure requirements are driving increasing printed circuit board complexity, which is a “boon” for TTM.
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