Goldman Sachs analyst Mark Delaney downgraded Sensata to Neutral from Buy with a price target of $36, down from $44. The analyst expects slower near to intermediate term revenue growth in the company’s North America auto business tied to electric vehicles, due to both weaker near-term EV sales, and from some traditional car makers delaying certain EV launches. The firm sees modest downside to Street estimates, and believes Sensata would need to be closer to an acceleration in fundamentals before the stock may outperform.
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