KeyBanc Starts Tyco Electronics (TEL) at Buy; Strong Component, Networking Supplier
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Price: $216.23 +0.69%
Rating Summary:
17 Buy, 12 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
17 Buy, 12 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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KeyBanc initiates coverage on Tyco Electronics (NYSE: TEL) with a Buy. PT $41.00.
KeyBanc analyst says, "Overall, we believe TEL is a high quality manufacturer of a wide variety of connector and networking products with a more diverse revenue base when compared with its closest peers. While we expect TEL to be impacted by near- term headwinds associated with inventory destocking and modest global demand in electronics and telecom markets, we believe TEL's relatively higher exposure to automotive markets will help sustain growth through FY12 as we think the auto business could be among the more stable end markets over the next several years."
"Our FY12 estimate is set at $3.32 vs. FY11 of $3.12, which includes our 1Q12E (December) of $0.68 vs. $0.73 in fiscal 1Q11. The Company's current guidance policy is to provide annual and quarterly EPS and revenue guidance. For fiscal 1Q12, total revenue is expected to fall between $3.4 billion-$3.5 billion, with EPS expected to be in the range of $0.68-$0.72."
For an analyst ratings summary and ratings history on Tyco Electronics click here. For more ratings news on Tyco Electronics click here.
Shares of Tyco Electronics closed at $31.71 yesterday.
KeyBanc analyst says, "Overall, we believe TEL is a high quality manufacturer of a wide variety of connector and networking products with a more diverse revenue base when compared with its closest peers. While we expect TEL to be impacted by near- term headwinds associated with inventory destocking and modest global demand in electronics and telecom markets, we believe TEL's relatively higher exposure to automotive markets will help sustain growth through FY12 as we think the auto business could be among the more stable end markets over the next several years."
"Our FY12 estimate is set at $3.32 vs. FY11 of $3.12, which includes our 1Q12E (December) of $0.68 vs. $0.73 in fiscal 1Q11. The Company's current guidance policy is to provide annual and quarterly EPS and revenue guidance. For fiscal 1Q12, total revenue is expected to fall between $3.4 billion-$3.5 billion, with EPS expected to be in the range of $0.68-$0.72."
For an analyst ratings summary and ratings history on Tyco Electronics click here. For more ratings news on Tyco Electronics click here.
Shares of Tyco Electronics closed at $31.71 yesterday.
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