In a report released today, Sean Hannan from Needham reiterated a Buy rating on Sanmina-Sci Corp (NASDAQ: SANM), with a price target of $40. The company’s shares opened today at $29.85.
Hannan observed:
“Following the SANM analyst event on 5/22, we remain comfortable (if not a little more encouraged) with our prior model that assumes a solid 2HF18 recovery and healthy momentum into F19. Overall, we believe SANM is pursuing the right strategy for higher value programs in the higher value markets (i.e., Medical, Industrial, Auto) while the potential impacts to its revenue mix (and thus earnings) could be more visible/pronounced over the next few years, if properly executed, than some peers. Further, SANM has healthy operating levers and an active buyback to aid double-digit EPS growth. We reiterate our Buy rating on positive momentum and an attractive valuation (trading <10x our F19 est. of $2.98)."
Hannan has an average return of 13.1% when recommending Sanmina-Sci Corp.
According to TipRanks.com, Hannan is ranked #396 out of 4799 analysts.
Sanmina-Sci Corp has an analyst consensus of Moderate Buy, with a price target consensus of $36.50.
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The company has a one-year high of $42.95 and a one-year low of $24.60. Currently, Sanmina-Sci Corp has an average volume of 638.5K.
Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is negative on the stock.
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Sanmina Corp. engages in the provision of integrated manufacturing solutions, components, products and repair, logistics, and after-market services. It operates through the Integrated Manufacturing Solutions (IMS); and Components, Products, and Services (CPS) segments.
