TTM Technologies jumps as Truist hikes target to $91 and AI/defense momentum builds
TTM Technologies shares rose as Truist lifted its price target to $91 from $78 and reiterated a Buy rating, pointing to improving AI/semiconductor demand and higher long-term estimates. The move also comes with investors still reacting to TTM’s recently announced $200 million potential multi-year Raytheon LTAMDS radar-components agreement.
1. What’s moving the stock today
TTM Technologies (TTMI) was higher in Tuesday trading after an analyst action helped reset expectations for the shares. Truist raised its price target to $91 from $78 while maintaining a Buy rating, citing updated longer-range estimates across the AI/semiconductor complex and a setup with more upside pressure to group forecasts.
2. Why investors are leaning in now
The analyst action lands while investors remain focused on TTM’s positioning in high-end PCBs and related assemblies used in AI infrastructure and advanced computing buildouts, where demand and mix can drive operating leverage. Separately, the stock continues to draw attention following TTM’s recently disclosed multi-year agreement with Raytheon (RTX) to supply RF assemblies, electronic hardware, and PCBs for LTAMDS radar components, with potential value up to $200 million—reinforcing the company’s defense-electronics narrative alongside AI exposure.
3. What to watch next
Traders will watch for follow-through in additional price-target changes and estimate revisions, especially if peers in the AI hardware supply chain continue to see upward adjustments. The next major company-specific checkpoint is TTM’s upcoming earnings report (currently listed for May 6, 2026, after market close), which could clarify near-term demand trends, capacity ramp timing, and margin trajectory.