Plexus Corp. PLXS is a leading provider of electronic contract manufacturing services to original equipment manufacturers (OEMs) in a wide range of industries. Plexus’ performance is benefitting from improving demand environment, new program ramps as well as revenue growth across all segments and regions. Plexus won 32 manufacturing contracts in the fiscal fourth quarter, worth $214 million in annualized revenues. The company’s expansion in several secular growth markets and massive backlog bode well in addition to the continuation of new program ramps. Plexus’ efforts to streamline its manufacturing facilities to optimize its operations are another tailwind.We believe that a healthy number of program wins will drive the stock. In fourth-quarter fiscal 2022. Plexus’ earnings beat the Zacks Consensus Estimate in three of the last four quarters. Shares of PLXS have increased in the past year.
Halliburton Company HAL is one of the largest oilfield service providers in the world, offering a variety of equipment, maintenance, and engineering and construction services to the energy, industrial and government sectors. Halliburton shares have handily outperformed the Zacks Oil & Gas Field Services industry over the past year and are poised to witness further upside. High commodity prices have increased demand for its services in North America, to which it is heavily exposed. In particular, Halliburton’s key Completion & Production unit margins are likely to be strong, with management expecting better pricing leverage going forward. Besides, Halliburton’s strong free cash flow generating ability indicates its financial strength. Its healthy relationship with national oil companies and digitization efforts also bode well. Considering all of these factors, we expect the company’s EPS to grow 92% this year. Overall, we view Halliburton as a long-term oilfield service play, which supports our Outperform recommendation.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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