Sensata Technologies (ST) PT Raised to $48 at BofA Securities

BofA Securities analyst Wamsi Mohan raised the price target on Sensata Technologies (NYSE: ST) to $48.00 (from $46.00) while maintaining a Neutral rating.

The analyst comments "We expect the key message during the call to be around reinforcing durable operational improvement, specifically on Auto outgrowth & margin improvement. Auto outgrowth is being supported primarily by platform wins in China, new platform launches outside China, & share gains in Japan, where opportunities for next-gen ICE platforms has formed. Beyond Autos, we expect focus on ST’s DC progress across sensors & electrical protection, as well as continued strength in A&D, where the operating backdrop remains favorable & should support modest margin expansion. Although valuation remains relatively compelling & performance is starting to show improvement, we reit Neutral given potential macro headwinds & measured pace of rev growth & margin recovery."

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