Amphenol (APH) PT Raised to $82 at Citi

Citi analyst Asiya Merchant raised the price target on Amphenol (NYSE: APH) to $82.00 (from $81.00) while maintaining a Buy rating.

The analyst comments "We remain broadly positive on the connector market which is expected to show continued momentum in 2025 following mid-single digit growth in 2024 (positive book to bill ratio), underpinned by strength in IT Datacom (improving broader infrastructure demand, growing AI demand amidst rising cloud capex expectations), while industrial markets are mixed (weak automation trends in Europe, but noted strength in medical, defense, energy) and automotive (esp. in Europe) demand remains tepid. While recent concerns around shipment delays for Blackwell/GB200 have been top of mind for investors, we continue to see these as temporary related to newer, more complex systems ramping and remain constructive on data center connector demand (content in AI servers is significantly greater than mainstream). We maintain our preference for APH (leading share in AI/data centers, 33% exposure to IT/Datacenters, accretive M&A and execution track record) vs TEL (60% transportation exposure)."

You May Also Be Interested In

• Samvardhana Motherson International (MOTHERSO:IN) PT Raised to INR170 at JPMorgan
• Spruce Biosciences (SPRB) PT Lowered to $144 at Citizens on Higher OpEx, Net Loss
• Citizens Upgrades Annexon Biosciences (ANNX) to Market Perform