Truist analyst William Stein raised the firm’s price target on TE Connectivity (TEL) to $255 from $200 and keeps a Hold rating on the shares. The company’s Q3 results and Q4 outlook exceeded consensus again, with the sales upside spread across many end markets, but focused in DDN – Digital Data Networks – and Energy, the analyst tells investors in a research note. An accounting change to exclude amort expense from non-GAAP profits makes the outlook appear even stronger than already strong trends, the firm added.
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