Bank of America Reiterates Buy on Sanmina-SCI Corporation

Bank of America reiterated its Buy rating on Sanmina-SCI Corporation SANM after a meeting with the company's CFO. In a research report published today, Bank of America states, "We hosted CFO Bob Eulau at our technology conference. The company continues its focus on the five key levers for margin expansion: 1) improving operating performance at some underperforming facilities, 2) driving better business mix, 3) improving component business margins, 4) operating expense leverage and 5) driving volume at underutilized facilities. The defense and optical end markets remain weak, and we expect slow gradual improvement over the next 2-3 quarters. We expect $30mn in real estate sales this year. Reiterate Buy." At the moment, Bank of America has a price target of $16 on the company's stock. On Wednesday, Sanmina lost 4.12% of its value to close the day at $10.25.