Sensata price target raised to $43 from $36 at Stifel

Stifel raised the firm’s price target on Sensata to $43 from $36 and keeps a Hold rating on the shares. Q1 results and Q2 guidance were both modestly ahead of Street, though the “major news” was that CEO Jeff Cote is leaving and that investor Elliott Investment Management has taken a board seat, the analyst tells investors. The firm, which says it is “not surprised by changes,” adds that it will be interesting to see what changes may be in store under a new CEO given the choppy sales and earnings performance at the company in the last two years.