Amphenol price target raised to $120 from $110 at BofA

BofA analyst Wamsi Mohan raised the firm’s price target on Amphenol (APH) to $120 from $110 and keeps a Neutral rating on the shares after the company announced an agreement to acquire CommScope’s (COMM) Connectivity & Cables Solutions business for $10.5B. The deal expands Amphenol’s portfolio of fiber optic interconnect, complex interconnect cables and fiber management, all of which strengthens its position in the data center, according to the analyst, who expects 15c-20c of EPS accretion in the first year.