Amphenol (APH) PT Lowered to $87 at Jefferies Following Management Meetings

Jefferies analyst David Kelley lowered the price target on Amphenol (NYSE: APH) to $87.00 (from $96.00) while maintaining a Buy rating following management meetings.

The analyst commented, "We hosted an investor meeting with APH's President & CEO, Adam Norwitt; CFO, Craig Lampo; & VP, Strategy & IR, Sherri Scribner. Our key takes: 1) 2H demand resiliency supported by order visibility, while pricing should drive solid margin conversion; 2) History of execution, end market diversification, & secular content suggest resiliency into uncertain '23; 3) M&A to remain a core growth driver. We modestly lower '23 ests.; PT to $87."

You May Also Be Interested In

• Unicycive Therapeutics (UNCY) PT Raised to $15 at Benchmark Following Q2 Results
• Nutanix (NTNX) PT Raised to $80 at Oppenheimer Into EPS
• Walmart (WMT) PT Lowered to $126 at BofA Securities