TE Connectivity (TEL) Gets a Buy Rating from RBC Capital


In a report released yesterday, Joseph Spak from RBC Capital maintained a Buy rating on TE Connectivity (TEL), with a price target of $102.00. The company’s shares closed last Thursday at $88.01.

According to TipRanks.com, Spak ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -9.0% and a 49.8% success rate. Spak covers the Industrial Goods sector, focusing on stocks such as Delphi Technologies, Tenneco Automotive, and Garrett Motion.

Currently, the analyst consensus on TE Connectivity is a Moderate Buy with an average price target of $98.10, which is a 9.6% upside from current levels. In a report issued on July 21, Jefferies also upgraded the stock to Buy with a $100.00 price target.

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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 $3.2 billion and GAAP net loss of $456 million. In comparison, last year the company earned revenue of $3.41 billion and had a net profit of $439 million.

Based on the recent corporate insider activity of 67 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TEL in relation to earlier this year.

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.

TE Connectivity Ltd. engages in the design and manufacture of connectivity and sensors solutions. It operates through the following segments: Transportation, Industrial, and Communications Solutions. The Transportation Solutions segment offers products that are used in the automotive, commercial transportation, and sensors markets. The Industrial Solutions segment provides products that connect and distribute power, data, and signal. The Communications Solutions segment supplies electronic components for the data and devices and appliances markets. The company was founded in 2000 and is headquartered in Schaffhausen, Switzerland.

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