Fly News Breaks for January 21, 2020
ST, APH, TEL
Jan 21, 2020 | 06:14 EDT
JPMorgan analyst Samik Chatterjee upgraded TE Connectivity (TEL) to Overweight from Neutral with a price target of $117, up from $98. The analyst cites the stabilization of the automotive end-market, which represents 44% of the company's revenue, recent positive data points in industrial, and TE's leverage to vehicle electrification for the upgrade. He believes we're entering 2020 with a more favorable view for industrial technology companies. Chatterjee also raised his price target for Neutral-rated Amphenol (APH) to $114 from $106 and for Neutral-rated Sensata (ST) to $59 from $52.
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