Sector Investing

[ReturntoSender]

PLXS Charts:





Plexus Shares Fall After Lowered Outlook
Thursday January 25, 11:51 am ET
Plexus Shares Tumble Day After Company Lowers Outlook; Analysts Reduce Price Targets

http://biz.yahoo.com/ap/070125/plexus_mover.html?.v=1

AP (AP) -- -- Shares of electronics manufacturer Plexus Corp. fell more than 14 percent Thursday morning, the day after the company issued second-quarter guidance below Wall Street's expectations.

Analysts were disappointed in the forecast and lowered their earnings estimates, but they noted the historic volatility of the company's stock and did not downgrade it.

The Neenah, Wis.-based company, which also lowered its full-year sales growth guidance, predicted a second-quarter profit between 15 cents and 19 cents per share on sales between $345 million and $355 million.

Analysts polled by Thomson Financial, on average, expect a profit of 35 cents per share on sales of $403.1 million.

Bear, Stearns & Co. analyst Kevin Kessel lowered his price target to $22 from $28, but maintained his "Outperform" rating.

"While we are very disappointed we didn't anticipate the operating leverage impact better, we still think it's a mistake to downgrade near the bottom ($17.65 after-market close), especially given how volatile Plexus is," Kessel wrote in a research note. "Barring a macro tech recession, we believe PLXS will see improved growth and profitability beginning in the June quarter and continuing throughout 2007-2008."

Deutsche Bank Securities Inc. analyst Carter Shoop maintained his "Hold" rating on Plexus, but lowered the company's price target to $16 from $24.

Shares of Plexus fell $2.86, or 13.5 percent, to $18.36 in morning trading on the Nasdaq. Earlier in the session, the set a fresh 52-week low of $17.78. The stock has traded between $18.08 and $47.05 in the past year.

http://finance.yahoo.com/q?s=plxs

http://www.smartmoney.com/pricecheck/index.cfm?story=worksheet&symbol=PLXS&nav=pc_snaps

RtS