June 10, 2019 / 4:39 PM / 4 months ago

BUZZ-Plantronics shares dial it up after Trump calls off Mexico tariffs

** Shares of Plantronics rallying about 7% on Mon after the United States abandoned its plans to impose tariffs on Mexico, where the telephone headset maker has a manufacturing facility

** Stock remains down 11% from May 7, when the co reported its qtrly results. It is up 37% YTD

** Co manufactures at its Tijuana facility, which also provides logistics for products destined for the U.S., Canada, and other regions, according to PLT’s annual report

** Mexico on Fri agreed to step up efforts to stem the flow of illegal Central American migrants following threats from U.S. President Donald Trump to impose a 5% import tariffs on Mexican goods starting Mon

** 4 analysts cover PLT, on avg rating it ‘buy’. Its median PT is $85.0, which is about 88% above its current price of $45.19

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