Citi Starts Amphenol (APH) at Buy, 'poised to resume above market sales and earnings growth'

Citi analyst Asiya Merchant initiates coverage on Amphenol (NYSE: APH) with a Buy rating and a price target of $117.00.

The analyst comments "Amphenol’s diversified end market exposure & strong execution have enabled historical sales + margin outperformance vs their peers. While CY23 sales are experiencing slight declines, we believe Amphenol is poised to resume above market sales and earnings growth, as spending on technology hardware (its largest end market) resumes, further aided by spending on AI infrastructure which require significantly more high-speed connector content."

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

Shares of Amphenol closed at $94.63 yesterday.

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