UPDATE: Citi Raises Amphenol's PT

According to a research report published earlier today, Citi has increased Amphenol's APH PT from $62 to $67. In the report, Citi commented, “APH reported Q1'12 (Mar) sales/EPS of $982m/$0.77 above consensus at $973m/$0.76 & above guidance for $960m-$975m/$0.73-$0.76. APH's Q2'12 sales outlook for $1,040m-$1,055m ($1,048m at the mid-point of the range +6% to +7% q/q) is above consensus at $1,035m and APH's EPS outlook of $0.82-$0.85 is inline with the street at $0.83. APH raised its full year sales/EPS guidance to be in the range of $4.11b-$4.19b/$3.30-$3.38, inline with consensus $4.16b/$3.33 and above prior guidance in the range $4.05b-$4.15b/$3.23-$3.34 which we attribute to a stronger than expected Q1'12 results and solid order bookings plus the completed Nelson-Dunn acquisition which is an estimated $45m of annual sales.” Citi maintains its Buy rating on Amphenol, which is currently trading at $58.79.