BW Online | December 19, 2000 | Banc of America Repeats Strong Buy On Sanmina as Stock Falls

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DECEMBER 19, 2000

WORD ON THE STREET

Banc of America Repeats Strong Buy On Sanmina as Stock Falls
Analyst says that the maker of circuit boards will grow revenue and profits more than 50% over consensus estimates over the next year. The stock still fell 6-1/8 to 66.

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Banc of America repeated its strong buy investment rating on Sanmina Corp , saying there is a probability that the maker of circuit boards and other electronics will grow revenue and profits more than 50 percent over consensus estimates over the next year. The stock still fell 6-1/8 to 66.

B of A Analyst Paul Fox said the stock dropped in sympathy with Merix Corp , a circuit board maker, which warned of an upcoming slowdown. Fox said he continues to believe there is good probability that the company will grow revenue and earnings per share more than 50% over consensus estimates over next year.

He also said the company has 80% business in assembly and only 20% in printed circuit boards (PCB). He said the company has significant long-term supply agreements covering it outside PCB sales.