Amphenol price target raised to $100 from $89 at Baird

Baird analyst Luke Junk raised the firm’s price target on Amphenol to $100 from $89 and keeps an Outperform rating on the shares. The firm said Q23 results exceeded expectations and management provided guidance bracketing the Street. Importantly, the latter reflects an inflection in business trends, reversing the trend of three straight moderate guidance “misses” seen 4Q22E-2Q23E.