Plexus Gets Analyst Upgrade — But Revenue Growth Lags

Forward-Looking Analysis

Keybanc analyst Steve Barger’s ratings, updated on 01/25/2026, highlight Plexus’s expected future growth, current valuation, and macroeconomic trends. While specific revenue or EPS estimates for 2026Q1 are absent from the provided data, Barger’s analysis underscores positive momentum. Competitor Sanmina (SANM) is flagged as overvalued, with a forward P/E of 16.51 versus Plexus’s 17.09, suggesting Plexus’s valuation is more aligned with industry benchmarks. Analysts rate Plexus with a consensus price target of $106.80 (18.32% upside), outperforming Sanmina’s 38.63% but trailing behind competitors like Kimball Electronics (KE) and SiTime (SITM). Institutional ownership at 92.9% signals confidence in long-term outperformance.

Historical Performance Review

In 2025Q4, Plexus reported revenue of $1.06 billion, net income of $51.43 million, EPS of $1.92, and gross profit of $104.78 million. The quarter reflected stable performance, with net income and EPS aligning with historical trends, though revenue growth was modest compared to peers like Celestica (CLS), which saw 154.7% year-over-year revenue growth.

Additional News

As of 01/23/2026, Plexus closed at $174.02, down 3.99% from the prior week. Extended trading saw a marginal 0.02% increase. Media mentions for Plexus declined by 61.5% week-over-week, contrasting with a 100% surge in MarketBeat followers. Competitor comparisons highlight Sanmina’s stronger analyst ratings but Plexus’s superior return on equity (15.77% vs. Sanmina’s 14.79%). Institutional ownership remains robust at 92.9%, with no recent M&A or product announcements impacting the stock.

Summary & Outlook

Plexus’s 2025Q4 results indicate steady, if unremarkable, performance. The Keybanc analyst upgrade and institutional confidence suggest upside potential, though revenue growth lags peers. A bullish stance is warranted given the favorable valuation metrics and strong ROE, but risks include competitive pressures from overvalued rivals like Sanmina. The 2026Q1 report will be critical to validate the analyst’s optimism and confirm sustainable growth catalysts.