KeyBanc Downgrades Amphenol (APH) to Hold; Valuation Call After Recent Run
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Price: $150.51 -0.46%
Rating Summary:
16 Buy, 12 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 18 | New: 50
Rating Summary:
16 Buy, 12 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 18 | New: 50
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KeyBanc downgraded Amphenol (NYSE: APH) from Buy to Hold.
Analyst, Anthony Kure, said, "We are downgrading shares to HOLD as the stock has nearly achieved our former $59 price target, and we find it more challenging at current price levels to aggressively suggest "new money" move into the name. Investors with a large-cap growth orientation and a longer-term time horizon may be well-served owning shares of this high quality name, but we believe investors will be best served to wait for a better entry point at a more conservative valuation, possibly in the context of a scenario where demand visibility for defense, broadband and wireless infrastructure spending becomes more apparent."
Kure maintains FY12/13 EPS estimate of $3.30/3.64.
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 $58.51 yesterday.
Analyst, Anthony Kure, said, "We are downgrading shares to HOLD as the stock has nearly achieved our former $59 price target, and we find it more challenging at current price levels to aggressively suggest "new money" move into the name. Investors with a large-cap growth orientation and a longer-term time horizon may be well-served owning shares of this high quality name, but we believe investors will be best served to wait for a better entry point at a more conservative valuation, possibly in the context of a scenario where demand visibility for defense, broadband and wireless infrastructure spending becomes more apparent."
Kure maintains FY12/13 EPS estimate of $3.30/3.64.
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 $58.51 yesterday.
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