Sensata downgraded to Underweight from Neutral at JPMorgan

JPMorgan downgraded Sensata to Underweight from Neutral with a price target of $34, down from $37. In conjunction with its 2024 hardware and networking outlook report, the firm made several rating changes. The analyst expects Sensata to be a relative underperformer in industrial technology with uncertainty in its revenue outlook driving lower likelihood of achieving margin targets.