Morgan Stanley Believes Sensors Should Provide Meaningful Growth Kicker For TE Connectivity Ltd

In a report published Thursday, Morgan Stanley analyst Craig Hettenbach reiterated an Overweight rating and $75.00 price target on

. In the report, Morgan Stanley noted, “The Sensor market increases TEL's TAM by 140% to $120bn and should help to accelerate the company's growth by 50-75bp. At a P/E of only 13.7X—15%/35% discount to the market/peer APH, we see much greater upside to the multiple if TEL executes well in Sensors and only modest downside if it doesn't.” TE Connectivity Ltd closed on Wednesday at $61.86.