In a report released yesterday, Christopher Glynn from Oppenheimer maintained a Buy rating on TE Connectivity (NYSE: TEL), with a price target of $120. The company’s shares closed yesterday at $96.73.
Glynn wrote:
“We hosted meetings covering organic growth execution and runway, operations, and cash generation. Emphasis remains steady on opportunity for the Transportation segment to execute organic growth compounding at the hsd end of the long-term stated organic range of msd-hsd. Portfolio composition reflects broad transformation from makeup out of Tyco about ten years ago through divestitures, organic run- off, and ramped R&D efficiency to drive stronger design win cycling. The portfolio spectrum approximates aspired composition (save Subcom—management filters strategic options, though might be limited), with 80% of mix serving harsh/mission- critical applications, up from 50% seven years ago. At Industrial, high-teens OM target (vs. our 14% ’18E) includes two-thirds footprint, one-third markets (O&G currently $100M/slight profit vs. $300M/30% EBIT prior rates).”
According to TipRanks.com, Glynn is a 5-star analyst with an average return of 10.9% and a 68.1% success rate. Glynn covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Honeywell International, and Roper Technologies.
TE Connectivity has an analyst consensus of Moderate Buy, with a price target consensus of $114.67.
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Based on TE Connectivity’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.75 billion and net profit of $490 million. In comparison, last year the company earned revenue of $3.23 billion and had a net profit of $405 million.
Based on the recent corporate insider activity of 90 insiders, corporate insider sentiment is negative on the stock.
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TE Connectivity Ltd. engages in the design and manufacture of connectivity and sensors solutions. It operates through the following segments: Transportation Solutions, Industrial Solutions, and Communications Solutions. The Transportation Solutions segment offers products that are used in the automotive, commercial transportation, and sensors markets.
