Canaccord Genuity Keeps Their Buy Rating on Sensata (ST)

Canaccord Genuity analyst Jonathan Dorsheimer maintained a Buy rating on Sensata (NYSE: ST) on August 3 and set a price target of $70. The company’s shares opened today at $54.69.

Dorsheimer noted:

“Sensata is a world-leading sensing company; its sensors and data acquisition tools drive efficiency and allow disruption in key applications such as automotive, heavy vehicle and off road, and industrial technology. Working with industries not known for innovation and reticent to change, Sensata brings a strong brand and a reputation as a leading supplier, which we think will position the company well to capture several converging secular trends – hybridization and electrification of autos, autonomous vehicles, and the Industrial IoT (IIoT). As the company continues to increase the number of discrete sensing solutions in its end markets, and develops systems architectures, we believe the value proposition increases, and thus should drive average ASP per unit, as well as the EBIT margin for investors. This should result in accelerating earnings and free cash flow.”

According to TipRanks.com, Dorsheimer is ranked #4548 out of 4846 analysts.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Sensata with a $59.60 average price target, which is an 9.0% upside from current levels. In a report issued on July 24, Oppenheimer also assigned a Buy rating to the stock with a $64 price target.

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Based on Sensata’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $105 million. In comparison, last year the company had a net profit of $79.46 million.

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Sensata Technologies Holding Plc designs, manufactures, marketing, or sale of electromechanical or electronic sensors or controls. The company was founded on March 28, 2018 and is headquartered in Swindon, the United Kingdom.