Morgan Stanley analyst Craig Hettenbach raised his price target on Amphenol to $110 and increased his bull case view on the stock to $150, citing his increasing confidence that it can replicate its success in the connector market as the company pushes deeper into sensors. He estimates that sensors represent 8% of Amphenol's earnings today, but believes this could increase to about 33% over the next decade through organic growth and M&A, Hettenbach tells investors. He maintains an Overweight rating on Amphenol 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.

Bullish option flow detected in Amphenol with 7,956 calls trading, 8x expected, and implied vol increasing over 3 points to 32.37%. May-24 125 calls and May-24 115 calls are the most active options, with total volume in those strikes near 6,000 contracts. The Put/Call Ratio is 0.20. Earnings are expected on April 24th.