TTM Technologies, Inc. shares reached a new all-time high on Tuesday, with the stock rallying after an investment firm upgraded its price target.
Needham & Company significantly increased its price target for TTM Technologies to $105 from $79. The firm maintained its "buy" recommendation for the stock.
During intra-day trading, the stock jumped to its highest price of $96.45 before trimming gains. It closed at $93.24 per share, up 19.71 percent for the day. The new price target still represents a 12.6 percent upside from the latest closing price.
The upgrade followed the participation of TTM Technologies President and CEO Edwin Roks and Chief Finance Officer Dan Boehle at the Needham Growth Conference. The conference took place on January 13th and 14th at the Lotte New York Palace Hotel in New York.
TTM Technologies, Inc. produces technology products including mission systems, radio frequency components, RF microwave/microelectronic assemblies, and technologically advanced printed circuit boards.
For the fourth quarter of 2025, the company targets net sales between $730 million and $770 million. It also targets diluted earnings per share of $0.60 to $0.70.