Oppenheimer analyst Christopher Glynn maintained a Buy rating on Littelfuse (LFUS) today and set a price target of $215. The company’s shares opened today at $171.84.
Glynn observed:
“1Q guidance reflect soft China markets, auto production adjustments, and flattening Electronics demand (after a couple years of exceptional growth) coupled with channel’s ongoing inventory adjustments. On about steady linearity of markets, LFUS sees earnings weighting favorably to 2H, as channel adjustments wane, and cost management and production transfer inefficiencies recede. For 2019, we expect some improvement in automotive OM, with particular tailwind on lower profitability sensors (as LFUS navigates through challenging product launches) and slight improvement at Electronics (IXYS synergies and productivity, net of trail of strong comps into a period of more meager organic growth). Long- term thematics around connectivity and electronification, along with capital allocation, continue to support a differentiated long-term profile in our view.”
According to TipRanks.com, Glynn is a 5-star analyst with an average return of 6.5% and a 57.9% success rate. Glynn covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Honeywell International, and Eaton Corporation.
Currently, the analyst consensus on Littelfuse is a Moderate Buy with an average price target of $218.50.
See today’s analyst top recommended stocks >>
The company has a one-year high of $238.11 and a one-year low of $155.15. Currently, Littelfuse has an average volume of 154.7K.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Littelfuse, Inc. engages in supplying of circuit protection products for the electronics, automotive and electrical industries. It offers electromechanical and electronic switch and control devices for commercial and specialty vehicles and sensors for automobile safety systems, as well as protection relays and power distribution centers for the safe control and distribution of electricity. It operates through the following segments: Electronics, Automotive, and Electrical. The Electronics segment includes the broadest and deepest portfolio of overvoltage and overcurrent solutions. The Automotive segment maintains a direct sales force to service all the major automotive OEMs and system suppliers domestically. The Electrical segment markets and sells its power fuses and protection relays through the manufacturer’s representatives across North America. The company was founded by Edward V. Sundt in 1927 and is headquartered in Chicago, IL.
