UPDATE: Stifel Nicolaus Downgrades TTM Technologies to Hold on Near- and Long-Term Issues
Stifel Nicolaus downgraded TTM Technologies, Inc. (NASDAQ: TTMI) from Buy to Hold.
Stifel Nicolaus said, "We are reducing estimates and lowering our investment rating on printed-circuit board manufacturer TTM Technologies from Buy to Hold due to, what we believe, are myriad near and long-term issues, including soft demand, excess industry capacity, and ongoing margin pressure related to rising labor costs and increased pricing competition."
TTM Technologies closed at $9.15 on Monday.
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