UPDATE: Oppenheimer Upgrades Sensata Technologie on Multiple Tailwinds
In a report published Wednesday, Oppenheimer analyst Christopher Glynn upgraded the rating on Sensata Technologies (NYSE: ST) from Perform to Outperform, and raised the price target from $37.00 to $43.00.
In the report, Oppenheimer noted, “We are upgrading shares of ST to Outperform from Perform, based on a breadth of emerging tailwinds, including (1) easing European production comparisons, (2) easing comparisons related to obsolescence of airbag application in North America, (3) inflection to margin benefits from acquisition integrations, (4) receding headwinds from Korean plant fire, and (5) potential pickup in new light vehicle platform launches. We believe these drivers solidly support our 2014E EPS growth of 20%, which in turn should support multiple stability.”
Sensata Technologies closed on Tuesday at $36.21.
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