Bank of America Securities analyst Wamsi Mohan reiterated a Buy rating on Amphenol yesterday and set a price target of $163.00.
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Wamsi Mohan has given his Buy rating due to a combination of factors including Amphenol’s impressive financial performance and strategic growth initiatives. The company reported quarterly revenue exceeding $6 billion for the first time, with incremental operating margins reaching near all-time highs at 47%, showcasing strong operational efficiency. Additionally, Amphenol demonstrated robust organic growth of 41% year-over-year for two consecutive quarters, driven by demand in key markets such as AI.
Amphenol’s guidance for the upcoming quarter also surpassed expectations, with projected revenues and earnings per share higher than previous estimates. The company’s successful acquisition strategy, including the anticipated closure of the Trexon and CCS acquisitions, further supports its growth trajectory. Moreover, Amphenol’s ability to deliver double-digit growth across most end markets, coupled with a significant increase in dividends, reinforces the positive outlook and justifies the Buy rating.
According to TipRanks, Mohan is a 5-star analyst with an average return of 18.4% and a 63.39% success rate. Mohan covers the Technology sector, focusing on stocks such as Apple, Dell Technologies, and Western Digital.
In another report released today, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $144.00 price target.