TTM Technologies price target raised to $30 from $26 at Needham

Needham raised the firm’s price target on TTM Technologies (TTMI) to $30 from $26 and keeps a Buy rating on the shares. The firm remains positive on the company’s fundamentals with steady backlog-supported growth in its largest market vertical – Aerospace & Defense – expected in 2025, along with a strong ongoing AI growth catalyst next year in its Data Center Computing business following expected growth of over 55% in 2024, the analyst tells investors in a research note. TTM Technologies’s Automotive sector is likely to be down for a third consecutive year in 2025, but growth in Commercial markets and in A&D gives Needham greater confidence in its mid-single-digit growth forecast, the firm added.