Citi analyst Jim Suva downgraded TE Connectivity to Neutral from Buy with a price target of $95, down from $105. The analyst sees downside risk to consensus estimates and valuation pressure following the stock's year-to-date outperformance. Weak trends in auto, which represents 42% of the company's sales, as well as muted appliance and industrial demand set up a high bar for TE Connectivity to guide above the consensus, Suva tells investors in a research note. With a possible auto recovery in the second half of fiscal 2020, management is likely to guide for a "heavy" back end-loaded year, but historically investors are skeptical about back end-loaded guidance, says the analyst.

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."