TTM Technologies upgraded to Buy from Hold at Stifel

Stifel upgraded TTM Technologies to Buy from Hold with a price target of $19, up from $15. Following a “solid” Q1 report, the firm has increasing optimism on the company’s growth drivers over the next few quarters, including a growing backlog in aerospace and defense, double-digit growth in data center due to arterial intelligence demand and signs of a recovery in networking and semiconductor capital equipment. In addition, TTM expects margins to improve this year due to the ramping of a new factory in Malaysia, the analyst tells investors in a research note.