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Plexus Corp. Well Positioned
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SharePlexus Corp. (PLXS) has posted several quarters of strong results, with significantly higher-than-expected revenue and bookings. However, macro-economic headwinds are expected to result in a reduced top-line growth in 2009.
We believe that PLXS is among the best positioned in the industry and is poised to grow with a strong pipeline and new customer wins in 2009 and beyond.
We therefore maintain our Buy rating on PLXS shares with our six-month price target of $22.00, and believe that the shares should trade at a P/E multiple of 15.1x, a premium to the industry mean and median due to strong pipeline and new customer wins.
Anita Mohata contributed to this report.
Read the full analyst report on PLXS
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