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.
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