Plexus (PLXS – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst David Williams from Benchmark Co. remains neutral on the stock and has a $110.00 price target.
David Williams has given his Buy rating due to a combination of factors involving Plexus’s recent addition to the Bureau of Industry and Security’s Unverified list. Despite this new challenge, Plexus is not prohibited from conducting business and is actively working towards understanding and resolving the situation. Williams emphasizes the company’s proactive engagement in establishing the requirements for removal from the list, noting that the Unverified designation typically stems from logistical issues in coordinating on-site inspections between U.S. and foreign officials, rather than violations of export rules.
Furthermore, Williams expresses optimism regarding the potential for a swift resolution, citing previous examples of entities being removed from the list, which suggests ongoing cooperation between the involved governments. He also highlights the significant revenue Plexus generates from China, which underscores the importance of their Chinese operations to their overall financial health. The analysis of the revenue from the Chinese market, particularly the substantial contribution from the Xiamen facilities, supports the rationale behind the Buy rating, projecting confidence in Plexus’s ability to navigate through the regulatory complexities.
According to TipRanks, Williams is a 4-star analyst with an average return of 6.3% and a 53.64% success rate. Williams covers the Technology sector, focusing on stocks such as IonQ, Plexus, and One Stop Systems.
See Insiders’ Hot Stocks on TipRanks >>
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
Plexus (PLXS) Company Description:
Plexus Corp. engages in the provision of electronic manufacturing services. The firm partners with companies to transform concepts into branded products and deliver them to the market. It has partnerships with customers in the healthcare and life sciences; industrial and commercial; communications; and aerospace and defense market sectors. The company operates through the following geographical segments: Americas (AMER); Europe, Middle East, and Africa (EMEA); and Asia-Pacific (APAC). Plexus was founded by Peter Strandwitz, Shirani Ramin and John L. Nussbaum in 1979 and is headquartered in Neenah, WI.
Read More on PLXS:
