Update shared on 24 Oct 2025
Analysts have increased their price target for TTM Technologies from $43 to $56, citing robust Q2 results. The upgrade is attributed to strength in Aerospace and Defense in addition to broader commercial outperformance.
Analyst Commentary
Following the recent strong quarterly performance, analysts have provided insights into both the optimistic and more cautious perspectives regarding TTM Technologies’ future outlook and valuation.
Bullish Takeaways- Bullish analysts highlight the significant revenue and earnings outperformance in Q2, noting that growth was fueled by both Aerospace and Defense as well as robust results in commercial segments.
- Positive momentum in Data Center verticals is seen as a key driver that could support sustained medium-term growth and enhance TTM Technologies’ market positioning.
- Increased price targets reflect confidence in the company’s execution and management’s ability to capitalize on secular growth trends across its core end markets.
- Upbeat sentiment is rooted in the company’s demonstrated ability to deliver above expectations, suggesting potential for further upward earnings revisions or multiple expansion.
- Bearish analysts caution that the current valuation reflects a high degree of optimism, leaving less room for error if demand trends moderate in key verticals.
- There is some concern over the sustainability of recent commercial outperformance, particularly if macroeconomic conditions become less favorable in the coming quarters.
- Risks remain around competitive pressures and supply chain disruptions, which could impact margins or execution in upcoming periods.
What's in the News
- Edwin Roks, Ph.D., appointed as new Chief Executive Officer effective September 2, 2025. He will succeed retiring CEO Thomas T. Edman, who will remain as advisor and board member through the transition (Key Developments).
- TTM Technologies introduces new ultra small RF crossover and broadband splitter components, expanding offerings for Telecom, Test and Measurement, and Mil-Aero markets (Key Developments).
- Company issues Q3 2025 earnings guidance, projecting revenues between $690 million and $730 million (Key Developments).
- Thomas T. Edman, current CEO, confirmed his intention to retire. He has led the company through significant strategic growth and market diversification since 2014 (Key Developments).
- No shares repurchased under the buyback program in the most recent tranches ending June 30, 2025. Cumulative buybacks stand at over 4.49 million shares, totaling $76.79 million since May 2023 (Key Developments).
Valuation Changes
- Fair Value remains unchanged at $62.75, indicating no shift in intrinsic valuation models.
- Discount Rate has decreased marginally from 8.72% to 8.72%, reflecting a minimal change in perceived risk or capital costs.
- Revenue Growth projections are stable, holding steady near 7.50%.
- Net Profit Margin remains essentially unchanged at approximately 8.18%.
- Future P/E ratio has declined very slightly from 32.07x to 32.07x, signaling a minor adjustment in expected earnings multiples.
Disclaimer
AnalystConsensusTarget is a tool utilizing a Large Language Model (LLM) that ingests data on consensus price targets, forecasted revenue and earnings figures, as well as the transcripts of earnings calls to produce qualitative analysis. The narratives produced by AnalystConsensusTarget are general in nature and are based solely on analyst data and publicly-available material published by the respective companies. These scenarios are not indicative of the company's future performance and are exploratory in nature. Simply Wall St has no position in the company(s) mentioned. Simply Wall St may provide the securities issuer or related entities with website advertising services for a fee, on an arm's length basis. These relationships have no impact on the way we conduct our business, the content we host, or how our content is served to users. The price targets and estimates used are consensus data, and do not constitute a recommendation to buy or sell any stock, and they do not take account of your objectives, or your financial situation. Note that AnalystConsensusTarget's analysis may not factor in the latest price-sensitive company announcements or qualitative material.