Goldman analyst Mark Delaney upgraded Amphenol to Buy and raised its price target to $70 from $60. The analyst believes Amphenol's diversified customers and end markets has enabled the company to outgrow peers and its broad product mix of connectors and sensors positions it to continue to outperform the industry. Delaney expects continued solid execution and returns, and positive consensus revisions, combined with improved supply chain datapoints for Apple (AAPL) will be a catalyst for shares

BofA raised the firm's price target on Amphenol to $124 from $121 and keeps a Buy rating on the shares after the company reported revenue and EPS that beat both guidance and Street estimates. Following the report, the firm is raising EPS estimates and reiterates its Buy rating, citing strong execution, improving margins, positive estimate revisions and potential for AI driven upside.

UBS analyst Chris Snyder raised the firm's price target on Amphenol to $138 from $135 and keeps a Buy rating on the shares. Amphenol's IT Datacom business reported 28% organic growth in the quarter, and the v-shaped recovery is due in large part to the company's outsized Data Center exposure, which is hitting the AI opportunity following a sharp period of destock, compounding the acceleration, the analyst tells investors in a research note. Assuming Amphenol hits their guidance and the non-AI business is flat to up 10% sequentially, the firm sees AI revenue of $190M-$240M in Q2, potentially doubling the firm's previous estimate.

In April, the Company purchased the remaining authorized amount of common stock under the existing three-year, $2B stock repurchase plan. On April 23, the company's board of directors approved a new three-year, $2B open market stock repurchase plan.