Sanmina price target raised to $58 from $51 at BofA

BofA raised the firm’s price target on Sanmina (SANM) to $58 from $51 and keeps an Underperform rating on the shares. BofA says Sanmina management continues to navigate a tough operating environment, but the firm reiterates an Underperform rating given near-term revenue challenges stemming from weak end markets and on-going inventory correction in the channel.