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Fly News Breaks for February 24, 2020
JBL, TTMI, ST, TEL, FLEX, ARW, LFUS, VSH, APH
Feb 24, 2020 | 11:23 EDT
Stifel analyst Matthew Sheerin keeps a Hold rating and $100 price target on Amphenol (APH) shares after the company warned that it will miss Q1 guidance due to further disruptions from the novel coronavirus, which he believes "should come as no surprise to investors." He would expect other component and connector suppliers to follow suit over the coming weeks, pointing to Vishay (VSH), Littelfuse (LFUS), Flex (FLEX), Arrow (ARW) and TE Connectivity (TEL) as other companies with 15% or more sales exposure to China. Sensata (ST) and TTM Technologies (TTMI) already factored the impact from Covid-19 in their March quarter guidance previously, but "those numbers could be considered stale at this point," added Sheerin. He also noted that Jabil (JBL) has roughly 50% of its footprint in China and Apple (AAPL) is its biggest customer, making it likely to feel a near-term impact.