Needham Raises TTM Technologies Price Target To $65, Keeps Buy Rating

Group 1 - Needham raised its price target on TTM Technologies to $65 from $56 while maintaining a Buy rating, citing stronger growth prospects in AI data center and defense markets [1] - Shares of TTM Technologies increased by more than 1% in pre-market trading following the announcement [1] Group 2 - Street estimates for 2026 are considered conservative, especially in TTM's Data Center Computing business [2] - Despite concerns regarding the slower ramp-up at the Penang facility, Needham is confident that TTM's China operations, which represent the majority of production, can meet rising AI-driven demand [2] - There is potential upside from TTM's aerospace and defense segment as it approaches 2026 [2]