Movement Alert｜TE Connectivity Falls 3.61% in Regular Trading, Evercore ISI Downgrade Continues to Weigh on Shares

Market Focus06-23

On June 23, TE Connectivity fell 3.61% in regular trading, trading at $205.81/share, with turnover of $57.13 million. The decline extended losses from the prior session as the impact of Evercore ISI's rating downgrade continued to pressure the stock.

Evercore ISI downgraded TE Connectivity from Outperform to In Line and cut its price target from $260 to $230, signaling a more cautious institutional outlook. The stock had already declined approximately 2.5% in the previous trading session following the downgrade, with selling momentum accelerating further. According to FactSet, the analyst consensus rating remains Overweight with a mean price target of $267.61, suggesting broader Wall Street sentiment has not yet shifted bearish.

Despite strong mid-year results — net income of $1.605 billion (up 196.67% YoY) and revenue of $9.413 billion (up 17.97% YoY) — the downgrade has overshadowed fundamentals in the near term. Within the Electronic Manufacturing Services sector, peers also posted broad declines, with Celestica down 6.82%, Fabrinet down 5.60%, TTM Technologies down 4.40%, Flex down 3.72%, and Jabil down 2.58%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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