BofA Securities has adjusted its price target for Amphenol Corporation (NYSE: NYSE:APH), a leading global provider of high-technology interconnect, antenna, and sensor solutions.
The firm increased the stock's price target to $74.00 from the previous $70.00 while maintaining a Neutral rating on the shares.
Amphenol's recent earnings report revealed a revenue of $4.04 billion and earnings per share (EPS) of $0.50, surpassing both the company's guidance and analyst estimates.
The guidance had anticipated revenue of $3.75 billion and EPS of $0.44, while analysts had estimated slightly higher figures of $3.81 billion in revenue and $0.45 EPS. The company's year-over-year revenue growth was reported at 26% in USD terms and 15% on an organic basis.
The company's operating margin was noted at 21.9%, which is an increase of 110 basis points year-over-year and 60 basis points sequentially. This improvement included a 50 basis point benefit from the exclusion of a one-time inventory step-up from the cost of sales.
BofA Securities reiterated its Neutral stance on Amphenol shares, anticipating that near-term trends might be subdued in the Industrial and automotive sectors. However, this is expected to be counterbalanced by strength in the Information Technology and data communications sectors.
The firm's estimates also now incorporate the impact of the Andrew acquisition, which is expected to commence in the second quarter of 2025.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.