Truist raised the firm’s price target on TE Connectivity (TEL) to $147 from $127 and keeps a Hold rating on the shares. The company’s Q2 results were “mixed” with weak sales offset by better margins, though while Comms underperformed in the quarter, orders grew and revenue appears to have stabilized, the analyst tells investors in a research note. The firm adds that it prefers Buy-rated Amphenol (APH) in connectors and NXP Semiconductors (NXPI) in semis for investors seeking faster or more secure growth.
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Read More on TEL:
- TE Connectivity price target raised to $153 from $149 at Baird
- TE Connectivity announces third quarter results for fiscal year 2023
- TEL Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Evercore ups TE Connectivity target, adds to ‘Tactical Outperform’ list
- TE Connectivity price target raised to $150 from $138 at Credit Suisse
