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Evercore ISI Maintains a Buy Rating on TE Connectivity (TEL)

Evercore ISI analyst Amit Daryanani maintained a Buy rating on TE Connectivity (TELResearch Report) on July 27 and set a price target of $145.00. The company’s shares closed last Thursday at $131.23.

According to TipRanks.com, Daryanani is a 3-star analyst with an average return of 2.9% and a 44.4% success rate. Daryanani covers the Technology sector, focusing on stocks such as International Business Machines, Hewlett Packard Enterprise, and Resideo Technologies.

Currently, the analyst consensus on TE Connectivity is a Moderate Buy with an average price target of $141.73, a 9.4% upside from current levels. In a report issued on July 12, Stifel Nicolaus also maintained a Buy rating on the stock with a $135.00 price target.

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Based on TE Connectivity’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $4.01 billion and net profit of $560 million. In comparison, last year the company earned revenue of $3.85 billion and had a net profit of $580 million.

Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TEL in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Switzerland-based TE Connectivity Ltd. designs, manufactures and sells connectivity and sensor solutions. The company, which was founded in 2000, operates through the following segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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