Oppenheimer analyst Christopher Glynn maintained a Buy rating on Littelfuse (LFUS) yesterday and set a price target of $215. The company’s shares closed yesterday at $192.71.
Glynn commented:
“We discussed LFUS business model drivers, profitability initiatives, and state of the cycle vs. channel inventory adjustments. LFUS remains of view that some inventory rebalance remains the primary near-term demand adjustment (organic 1Q guide for -4%, vs. +4% in 4Q18 and up ~10% 1Q-3Q18), probably moderating in 2Q and favoring better 2H fundamentals. In this view, LFUS continues to expect lsd organic growth for the full year at Electronics and Automotive (Industrial maybe better), with improved Automotive margins (Sensors a pretty clear tailwind) and confidence in holding Electronics OM in the low 20%s. We model Electronics OM flat vs. ’18 at 21.5% (and would not be surprised if marginally better); that, with the other inputs, we remain comfortable with our above-consensus ’19E EPS.”
According to TipRanks.com, Glynn is a 5-star analyst with an average return of 6.7% and a 60.9% success rate. Glynn covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Honeywell International, and Roper Technologies.
Littelfuse has an analyst consensus of Moderate Buy, with a price target consensus of $196.67.
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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 152.9K.
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Littelfuse, Inc. engages in supplying of circuit protection products for the electronics, automotive and electrical industries. The company offers electromechanical and electronic switch and control devices for commercial and specialty vehicles and sensors for automobile safety systems.
