Stifel Reiterates Hold Rating on Plexus (PLXS)

Stifel analyst Ruben Roy reiterated a Hold rating and $145.00 price target on Plexus (NASDAQ: PLXS).

The analyst commented, "Last week, we hosted Plexus President and CEO, Todd Kelsey, VP of Finance, North America, Rob Michalkiewicz, and VP of Investor Relations, Shawn Harrison for a series of investor meetings. Throughout the two days of meetings, management effectively highlighted the four pillars of the company’s strategy: 1) Focus (innovative engineering led approach); 2) Execution (operations and services); 3) Passion (consistent approach across a global network/strong employee value proposition); and 4) Financial Discipline (longer-term revenue CAGR target of 9% - 12%, Adjusted operating margin target of >6% and ROIC target of 15%). Management also highlighted competitive positioning around a large EMS TAM with PLXS’ focus to remain on highly complex areas of the market, which, in many cases, have demanding regulatory environments. Net/net, the meetings reinforced our belief that PLXS is well positioned across a diverse range of end markets with a broader strategy that should continue to drive strong ROIC."

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 $133.71 yesterday.

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