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Could Market Overreaction Grant Investors A Nice Entry Point In Sanmina?

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Could Market Overreaction Grant Investors A Nice Entry Point In Sanmina?

Argus provided its outlook on Sanmina Corp (NASDAQ: SANM) in its Wednesday Market Digest.

According to the analysts, investors overreacted to 4Q guidance and erased half the year-to-date gains. "Investors appear to fear a more extended period of soft demand trends ahead. In our view, Sanmina remains a well-run company with attractive market opportunities and solid customer relationships," said Argus, noting that they see the pullback on "guidance panic" as an opportunity to catch up with a fast-rising company that was taken down a peg but still has plenty of upside.

Related Link: Craig Hallum Downgrades Sanmina To Hold

According to the analysts, the company continues to generate cash and lower debt, while returning value to shareholders via stock buybacks. They believe Sanmina has significant untapped earnings power, and reiterating their Buy rating on the company with a 12-month target price of $33.

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Latest Ratings for SANM

DateFirmActionFromTo
Jul 2020CitigroupMaintainsNeutral
Apr 2020CitigroupMaintainsNeutral
Apr 2020CFRAMaintainsHold

View More Analyst Ratings for SANM
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