BUZZ-Jefferies assumes coverage on TE Connectivity, cites strong AI demand
Reuters03-31
BUZZ-Jefferies assumes coverage on TE Connectivity, cites strong AI demand
** Jefferies assumes coverage on electric components maker TE Connectivity TEL.N with "buy" rating, cuts price target to $250 from $280
** New PT shows an upside of 25.9% from the stock's last close
** Brokerage says strong AI and data center demand supports momentum, making co's AI sales targets increasingly achievable
** Adds transportation exposure remains a near-term drag on co's growth and valuation
** 16 of 22 brokerages rate the stock "buy" or higher, 6 "hold"; their median PT is $274.50- data compiled by LSEG
** As of last close, stock had fallen 12.7% YTD
(Reporting by Apratim Sarkar in Bengaluru)
((Apratim.Sarkar@thomsonreuters.com))
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