Markets & Finance

CSFB Upgrades Sanmina-SCI


CSFB upgraded Sanmina-SCI (SANM) to outperform from neutral.

Analyst Michael Walker says Sanmina's fourth-quarter and guidance were mixed. He also notes that $3.3 billion third-quarter revenues were at the high end of the forecast range and earnings per share of 8 cents was at the low end. Meanwhile, fourth-quarter guidance was similarly mixed.

However, Walker says Sanmina is driving value out of its restructuring effort in its core electronics manufacturing services business, which he believes will result in earnings growth well ahead of expectations implied by the stock's sector-low valuation.

He raised his 45 cents fiscal 2005 (Sept.) earnings-per-share estimate to 48 cents on a higher margin assumption. He boosted the $8 price target on the stock to $10.


Race, Class, and the Future of Ferguson
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

Sponsored Financial Commentaries

Sponsored Links

Buy a link now!

 
blog comments powered by Disqus