Amphenol (APH – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Wamsi Mohan from Bank of America Securities reiterated a Buy rating on the stock and has a $117.00 price target.
Wamsi Mohan has given his Buy rating due to a combination of factors including Amphenol’s impressive performance in the IT Datacom end-market, particularly in the realm of artificial intelligence (AI). The company has consistently outperformed management’s own guidance for the last three quarters, primarily driven by AI applications that necessitate high-speed connectivity solutions. This strong execution, alongside improving margins and a period of growth that surpasses industry trends, supports the optimistic stance on Amphenol’s stock.
Furthermore, Mohan’s analysis suggests that the market may be underestimating Amphenol’s potential IT Datacom revenue for the coming year, particularly when considering parallel revenue estimates from NVIDIA, a key player in AI datacenter technology. Amphenol’s long-standing involvement with NVIDIA’s NVLink technology and its critical role in high-speed connectors for AI applications across various technology providers indicates a substantial pipeline for growth. This, coupled with conservative revenue estimates that still show a positive trajectory, justifies the increased price objective to $117, reinforcing the Buy rating for Amphenol.
In another report released yesterday, Robert W. Baird also maintained a Buy rating on the stock with a $114.00 price target.
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Amphenol (APH) Company Description:
Connecticut-based Amphenol Corp. designs, manufactures, and markets electrical, electronic, and fiber optic connectors. It operates through two segments: Interconnect Products and Assemblies; and Cable Products and Solutions.
Read More on APH:
- Amphenol price target raised to $106 from $100 at Baird
- Amphenol Announces Stock Purchase Agreement with Carlisle
- Amphenol acquisition of Carlisle’s CIT Group for $2.025B seento be accretive
- Carlisle to sell CIT unit to Amphenol in transaction valued at $2.025B
- Amphenol price target raised to $121 from $118 at Truist
