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Jefferies Thinks TE Connectivity’s Stock is Going to Recover

Jefferies analyst David Kelley maintained a Buy rating on TE Connectivity (TELResearch Report) on April 12 and set a price target of $160.00. The company’s shares closed last Thursday at $120.88, close to its 52-week low of $120.75.

According to TipRanks.com, Kelley is a 3-star analyst with an average return of 3.8% and a 44.0% success rate. Kelley covers the Industrial Goods sector, focusing on stocks such as Luminar Technologies, BorgWarner, and Littelfuse.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for TE Connectivity with a $157.00 average price target, representing a 25.9% upside. In a report issued on March 31, Evercore ISI also maintained a Buy rating on the stock with a $170.00 price target.

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Based on TE Connectivity’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $3.82 billion and net profit of $566 million. In comparison, last year the company earned revenue of $3.52 billion and had a net profit of $381 million.

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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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