CTS Corporation price target raised to $46 from $38 at TD Cowen

TD Cowen raised the firm’s price target on CTS Corporation to $46 from $38 and keeps a Market Perform rating on the shares. The firm said margin resilience given weak top-line is a plus but the magnitude of a 2H recovery remains uncertain. EV/eBrake design-ins continue though material revenue remains further out and they see risk/reward as balanced at current valuation.