Jan. 14 at 6:31 PM
TTM Technologies’ CEO Edwin Roks outlined a strong growth outlook during the Needham Growth Conference, projecting annual revenue growth of 15% to 20% over the next three years and a doubling of earnings between 2025 and 2027. Roks made the comments while discussing the most notable technological developments he has observed since joining the company.
Following these projections, Truist Securities analyst William Stein raised his price target on TTM Technologies to
$113 from
$91, while reaffirming a Buy rating. Stein said the CEO’s remarks support Truist’s thesis for accelerating revenue and earnings growth, driven by stronger-than-expected demand tied to artificial intelligence and margin expansion from increased production in Penang.
Stein also lifted his 2027 EPS estimate to
$4.72 from
$3.80, noting this falls slightly short of management’s implied doubling but still represents significant upside.
$TTMI