Truist lowered the firm’s price target on TE Connectivity to $127 from $131 and keeps a Hold rating on the shares. The company’s Q2 earnings topped expectations, but its Comms segment remains soft and its industrial equipment business is weakening, though the EV content growth and optimism regarding the 48 volt impact were constructive, the analyst tells investors in a research note.
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- TE Connectivity announces second quarter results for fiscal year 2023
- TE Connectivity sees Q3 adjusted EPS $1.65, consensus $1.72
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