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UPDATE: Baird Downgrades Littelfuse Inc (LFUS) to Neutral

July 6, 2022 3:49 AM EDT
Get Alerts LFUS Hot Sheet
Price: $248.80 -0.88%

Rating Summary:
    3 Buy, 7 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 37 | New: 8
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(Updated - July 6, 2022 6:43 AM EDT)

Baird analyst David Leiker downgraded Littelfuse Inc (NASDAQ: LFUS) from Outperform to Neutral with a price target of $269.00 (from $289.00).

The analyst comments "Downgrading LFUS to Neutral based on Electronics-related risks, and locking in flat performance vs. the S&P 500 YTD (20%+ outperformance since mid-April). Our Neutral rating is based on three factors: 1) tough Electronics comps that create a difficult 2023 setup (recession or not), 2) negative Electronics demand signals from Baird’s proprietary passive component tracker, and 3) insufficient expected near-term strength ex-Electronics. Bottom line, we see potential underperformance through the initial stages of a likely Electronics downturn."

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

Shares of Littelfuse Inc closed at $250.88 yesterday.


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