KeyBanc Upgrades Plexus (PLXS) to Overweight

KeyBanc analyst Steve Barger upgraded Plexus (NASDAQ: PLXS) from Sector Weight to Overweight with a price target of $300.00.

The analyst comments: “We are upgrading shares of PLXS to OW with a $300 PT following investor meetings. Our estimates go up to reflect solid growth prospects across its end markets, and while reinvestment could modestly hinder NT margin expansion, we expect PLXS’s ongoing investments will drive EPS growth and FCF generation in the coming years. We acknowledge risks to the multiple from the AI infrastructure spending narrative, but we think PLXS’s unique and diversified position in regulated markets provides solid differentiation from peers, and the recent pullback provides an opportunity for LT shareholders.”

For an analyst ratings summary and ratings history on Plexus click here. For more ratings news on Plexus click here.

Shares of Plexus closed at $252.36 yesterday.

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