RBC Capital analyst Amit Daryanani reiterated a Buy rating on TE Connectivity (NYSE: TEL) yesterday and set a price target of $114. The company’s shares closed yesterday at $90.58.
According to TipRanks.com, Daryanani is a top 100 analyst with an average return of 24.1% and a 81.1% success rate. Daryanani covers the Consumer Goods sector, focusing on stocks such as Ichor Holdings Ltd, Texas Instruments, and Xperi Corporation.
Currently, the analyst consensus on TE Connectivity is a Strong Buy with an average price target of $117.33, representing a 29.5% upside. In a report issued on September 17, Morgan Stanley also maintained a Buy rating on the stock with a $107 price target.
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Based on TE Connectivity’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $3.76 billion and net profit of $454 million. In comparison, last year the company earned revenue of $3.37 billion and had a net profit of $435 million.
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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.
