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Fly News Breaks for June 7, 2016
PLXS
Jun 7, 2016 | 09:05 EDT
Needham analyst Sean Hannan expects Plexus' momentum into the second half of 2016 to continue to be positive owing to favorable outsourcing trends, new program ramps, and more streamlined operations. The analyst says the company reaffirmed its June quarter guidance and also announced a $150M repurchase program, which he sees as positives and supportive of his favorable viewpoints that the general EMS environment as well as Plexus' operations are in "fairly healthy" shape. He reiterates a Buy rating and $45 price target on the shares.
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