Deutsche Bank maintained a Buy rating on Amphenol (NYSE: APH), and cut the price target to $52.00 (from $60.00), following the company's 4Q earnings report. Results beat expectations, and in-line FY-16 guidance was significantly better than anticipated, given high levels of macro uncertainty and concerns about weakness in emerging markets and China. Sales of $1.43B and EPS of $0.63, beat Consensus at $1.35B and $0.59. 1Q16 guidance was for sales of $1.38-$1.42B and EPS of $0.55-$0.57, vs. Consensus at $1.37B and $0.57.

Analyst Sherri Scribner commented, "APH’s Dec Q results beat expectations and in-line FY-16 guidance was significantly better than anticipated, given high levels of macro uncertainty and concerns about weakness in emerging markets and China. Stronger-thanexpected double-digit F4Q-16 sales growth in Auto and Industrial highlight APH’s ability to find pockets of growth in challenging end markets. We continue to view APH as well positioned for a number of strong growth trends, including increased electrical content, embedded computing and the Internet of Things. APH typically outperforms peers in downturns and we expect the company to continue to deliver solid, above-market results; reiterate Buy."

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Shares of Amphenol closed at $46.51 yesterday.