Ruben Roy, an analyst from Stifel Nicolaus, has initiated a new Buy rating on TTM Technologies (TTMI).
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Ruben Roy has given his Buy rating due to a combination of factors driving TTM Technologies’ potential growth and positive outlook. The company has shown significant progress in diversifying its revenue streams, particularly through strategic acquisitions that have shifted a substantial portion of its Aerospace and Defense business towards engineered and integrated electronics. This shift reduces reliance on traditional products and positions the company well in growing sectors.
TTM Technologies is also experiencing strong demand in the Data Center Computing segment, which has seen a notable year-over-year increase driven by the need for advanced technologies in artificial intelligence applications. Additionally, the opening of a new manufacturing site in Malaysia is anticipated as a positive long-term catalyst, as production transitions from China to Penang. While some areas such as Medical/Industrial/Instrumentation and Automotive show weaker demand, the overall growth and strategic positioning in key segments justify the Buy rating.
In another report released on February 6, B.Riley Financial also maintained a Buy rating on the stock with a $35.00 price target.