Amphenol price target raised to $95 from $88 at Stifel

Stifel analyst Matthew Sheerin raised the firm’s price target on Amphenol to $95 from $88 and keeps a Hold rating on the shares after December-end quarter sales beat the firm’s estimate, benefiting from stronger than expected sales in mobile device, automotive and IT datacom markets. The firm raised its forward estimates to reflect the top-line benefit from the closing of four acquisitions in Q4, noting that those bring the company’s FY23 acquisition total to 10, adding more than $600M in total annual revenue by the firm’s estimate.