Market Overview

UPDATE: JP Morgan Downgrades TTM Technologies to Neutral on Lack of Catalysts

Share:
Related TTMI
TTM Technologies, Inc. Announces Private Placement Offering Of Senior Secured Notes Due 2023
TTM Technologies, Inc. Announces Receipt of All Foreign Approvals to Acquire Viasystems Group, Inc.

JP Morgan reduced its rating on TTM Technologies (NASDAQ: TTMI) from Overweight to Neutral and lowered its price target from $11.50 to $11.

JP Morgan commented, "We are downgrading TTMI to Neutral from Overweight owing to lack of nearterm catalysts. On revisiting our CY13-14 forecast, we believe our prior gross operating margin estimates were too aggressive and we have therefore trimmed EPS slightly, though we still believe TTMI is positioned for growth in 2013 (revenue estimates are unchanged). The stock looks somewhat undervalued, but we believe TTMI's multiple will remain depressed pending evidence that demand for PCBs is ramping in the communications equipment end market, which we do not anticipate in the next six months."

TTM Technologies closed at $9.18 on Wednesday.

Latest Ratings for TTMI

DateFirmActionFromTo
Oct 2014Stifel NicolausMaintainsBuy
Jul 2014JP MorganMaintainsNeutral
Apr 2014Stifel NicolausUpgradesHoldBuy

View More Analyst Ratings for TTMI
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Related Articles (TTMI)

Around the Web, We're Loving...

Get Benzinga's Newsletters