Citi opens ‘negative catalyst watch’ on TE Connectivity

Citi opened a “90-day negative catalyst watch” on TE Connectivity while keeping a Neutral rating on the shares with a $146 price target. The firm cites mixed auto data points over the past couple of weeks for the move. Year-to-date data points on inventory build in the auto market suggest potential for further estimate cuts to the auto supply chain, As previously reported,