Littelfuse price target lowered to $290 from $300 at Baird

Baird lowered the firm’s price target on Littelfuse to $290 from $300 and keeps a Neutral rating on the shares. The firm said their passive component tracker suggests September electronics momentum again failed to break from the recent bottoming trend. They now believe that passive product growth within the company’s Electronics business, which is 45% of LTM segment sales, is now likely to inflect favorably no sooner than early 2024,