TTM Technologies (TTMI) Surges 37% on Buy Reco, PT Hike

Core Viewpoint - TTM Technologies Inc. (NASDAQ:TTMI) has seen a significant stock price increase of 36.7% week-on-week, reaching an all-time high, following a price target upgrade from Truist Financial and positive financial targets announced by the company [1][2]. Group 1: Stock Performance and Upgrades - TTM Technologies' stock was upgraded by Truist Financial from $91 to $113, maintaining a "buy" recommendation [1]. - Needham also raised its price target for TTM Technologies by 33% from $79 to $105, while also keeping a "buy" recommendation [4]. Group 2: Financial Targets and Growth Expectations - The company aims to double its earnings per share and achieve annual sales growth of 15% to 20% over the next two years, following an 18% revenue growth in the last reported quarter of 2025 [2]. - For the fourth quarter of 2025, TTM Technologies targets net sales between $730 million and $770 million, with diluted earnings per share projected at $0.60 to $0.70 [5]. Group 3: Growth Drivers - The price target upgrade by Truist is based on optimism regarding TTM Technologies' growth in AI and expected margin expansion due to increased production in Penang, Malaysia [3]. - Truist also raised its 2027 EPS forecast for TTM Technologies to $4.27 from $3.80, indicating potential for further upside from AI and defense sectors [3].