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Stifel Nicolaus reiterated its Buy rating on Amphenol Corporation
APH and raised its price target from $63 to $66.
Stifel Nicolaus noted, "We are raising estimates and PT for APH following a solid beat and raise. The connector supplier modestly beat our June-quarter estimates, despite some FX headwinds and macro pressures, and guidance for both 3Q and FY12 was above our above-consensus estimates, aided partially by another small acquisition, but primarily from the mobility sector (17% of sales), which we are now modeling up 20-25% q/q in 3Q, driven by ramps at several key tablet/e-reader and smartphone customers. Most other markets will be flat to down seasonally (with datacom softer than seasonal)."
Amphenol Corporation closed at $58.94 on Wednesday.
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