Thomas Weisel Cuts TTM Technologies to Peer Perform
Thomas Weisel downgraded TTM Technologies (TTMI) to peer perform from outperform, explaining that the company's share prices are now 47% higher year to date even as the Nasdaq drops 3%.
Analyst Matt Sheerin is not expecting negative surprises to second quarter results or third quarter guidance, and believes the company's core business fundamentals to be sound. However, he thinks upside to forward earnings per share (EPS) estimates are limited at this point. He thinks revenue growth is likely decelerating into 2007. He notes rising raw materials costs continue to be a drag, among other things.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- ‘No Cash’ Signs Everywhere Has Sweden Worried It's Gone Too Far
- Morgan Stanley Says Stock Slide Was Appetizer for Real Deal
- Boom Turns to Bust for Millennials Across Advanced Economies
- How One of the Most Profitable Trades of the Last Few Years Blew Up in a Single Day
- Dollar Steady, Oil Rises as European Stocks Falter: Markets Wrap