UPDATE: Deutsche Bank Raises Target to $19 on Benchmark Electronics

Deutsche Bank maintains its Hold rating on Benchmark Electronics BHE and raises its price target to $19 from $15 to reflect recovery in Thailand and new program ramps driving better results and guidance. Deutsche Bank says, "With the recovery from flooding in Thailand progressing faster than expected, BHE reported F4Q-11 results that beat its Jan 9th positive preannouncement. New program ramps and a continued recovery in Thailand drove a better F1Q-12 outlook. While not providing guidance, mgmt commented that current visibility indicates Q/Q growth in F2Q-12 due to ramping programs and a more stable macro environment." BHE closed at $17.99 a share on Thursday.