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Fly News Breaks for July 25, 2019
TEL
Jul 25, 2019 | 06:40 EDT
Wells Fargo analyst Deepa Raghavan downgraded TE Connectivity to Market Perform from Outperform with a price target of $100, down from $105. The analyst sees "numerous speed bumps ahead" for the company due to "high" fiscal 2020 consensus expectations, low visibility to an auto recovery, and risk of an elongated inventory destock cycle versus fundamental weaknesses. He believes consensus estimates for next year need to come down.
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