Needham raised the firm’s price target on Plexus to $113 from $107 and keeps a Buy rating on the shares. The company generated better than expected margins that resulted in earnings coming in above the high end of guidance and above consensus, the analyst tells investors in a research note. The quarter marked a solid showing considering supply chain challenges, macro uncertainty, and a cyclical downturn in semi-cap – a key end-market, the firm added.
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Read More on PLXS:
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- Plexus Announces Fiscal Fourth Quarter and Fiscal Year 2023 Financial Results
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- Plexus Sets Fiscal Fourth Quarter 2023 Earnings Release Date
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