TTM Technologies: Record Q1 Beat Fueled By AI And Defense, But Valuation Priced For Perfection
TTM Technologies reported a strong Q1 earnings beat and raised its Q2 guidance, driven by growth in AI-related data center demand and a robust defense backlog. The company is benefiting from strategic investments in new manufacturing facilities and expects significant revenue and earnings growth through 2027. However, its current valuation of 47 times forward earnings reflects high expectations, leading to a 'Hold' rating as the stock may lack margin for error.
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