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Fly News Breaks for June 17, 2019
Jun 17, 2019 | 08:49 EDT
As previously reported, Longbow analyst Shawn Harrison downgraded Amphenol (APH), Sensata Technologies (ST) and TE Connectivity (TEL), each to Neutral from Buy, after his mid-quarter checks pointed to downside intra-quarter and for the second half of the year related to declining bookings, principally in the broad industrial markets as well as from the U.S. sales ban to Huawei. His checks show that demand has weakened and auto production cuts represent further downside risk. Additionally, inventory corrections are now set to continue into the fourth quarter of 2019, Harrison tells investors that his checks are indicating.
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