Needham lifted its price target on TTM Technologies (NASDAQ: TTMI) to $65 from $56 while reiterating a Buy rating, saying it saw stronger growth prospects in both the AI data center and defense markets. Shares rose more than 1% pre-market Tuesday.
The firm said Street estimates for 2026 looked conservative, particularly in TTM’s Data Center Computing business. While investors had raised questions about slower ramp-up at its Penang facility, Needham expressed confidence that the company’s China operations, which account for most of its production, could meet accelerating AI-driven demand even before Penang scaled up.
The brokerage also noted potential upside from TTM’s aerospace and defense segment heading into 2026.
