Goldman Sachs Upgrades TE Connectivity (TEL) to Conviction Buy

Goldman Sachs upgraded TE Connectivity (NYSE: TEL) to Conviction Buy with a price target of $45 (up from $39), suggesting 24% upside.

TE Connectivity is an attractive way to gain exposure to a re-acceleration in
electronics growth in the automotive market (34% of sales) and a rebound in the comm market (25% of sales), according to the firm.

The forecasted 14% EPS growth though CY13 and multiple expansion should drive the stock higher.

For an analyst ratings summary and ratings history on TE Connectivity click here. For more ratings news on TE Connectivity click here.

Shares of TE Connectivity closed at $36.18 yesterday.

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