Goldman Sachs analyst Mark Delaney upgraded TE Connectivity to Neutral and raised his 12-month price target for the shares to $101 from $94. The analyst has increased confidence in TE's ability to sustain "solid" fundamental trends this year given its backlog and continued "solid" auto and industrial demand data points throughout Q1. TE is also benefiting from content gain opportunities in hybrid cars and electric vehicles, and the company has done well to increase its exposure to hyperscale customers within its Communications Solutions segment, Delaney tells investors in a research note. The analyst, however, still expects the company's growth to decelerate and he views the current valuation as full.

BofA raised the firm's price target on TE Connectivity to $161 from $155 and keeps a Buy rating on the shares. Fiscal Q2 results showed quarter-over-quarter order growth in all segments and the firm is expecting steady margins for the rest of FY24, the analyst tells investors in a post-earnings note.

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Sees Q3 revenue $4B, consensus $4.11B. The company said, "For the third quarter of fiscal 2024, the company expects net sales of approximately $4.0 billion. GAAP EPS from continuing operations are expected to be approximately $1.71, up 2% year over year, with adjusted EPS of approximately $1.85, up 5% year over year. Third quarter guidance includes a $0.15 year-over-year headwind from tax and currency exchange rates."