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I opened positions in Pre-trading 08Nov24
Source: Yahoo Finance
Amphenol Corporation (NYSE:APH)
Number of Hedge Fund Holders: 72
Amphenol Corporation (NYSE:APH) specializes in designing, manufacturing, and marketing electrical, electronic, and fiber optic connectors. On October 23. Bank of America analyst Wamsi Mohan raised the price target on the stock to $74 from $70 and kept a Neutral rating on the shares. Amphenol had a strong quarter, with both revenue and EPS beating guidance and Street estimates, and Q4 and the fiscal year outlook was guided conservatively, the advisory told investors in a research note. CapEx stepped up meaningfully and could reflect the company's confidence in AI orders into 2025, the note underlined, adding that $2 billion in incremental revenues at 35% incremental margins could drive significant upside to consensus in EPS, but the advisory isn't ready to underwrite this notion as of yet given view of continued design changes at some large programs.
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Based on the available information, I couldn't find any specific news or events that directly explain the recent movement of Amphenol Corporation (APH) stock on November 8, 2024. However, it's important to note that stock prices can be influenced by various factors, including market sentiment, industry news, economic indicators, and investor behavior.
It's worth mentioning that on October 23, Bank of America analyst Wamsi Mohan raised the price target on Amphenol stock to $74 from $70 and maintained a Neutral rating on the shares. The analyst noted that Amphenol had a strong quarter, with both revenue and EPS beating guidance and Street estimates. The company's Q4 and fiscal year outlook, however, was guided conservatively. The analyst mentioned that the company's increased CapEx could reflect its confidence in AI orders into 2025, potentially driving significant upside to consensus EPS. However, the analyst wasn't ready to fully endorse this notion due to continued design changes at some large programs.
While this information provides some insights into the company's performance and outlook, it does not directly explain the specific movement on November 8, 2024. It's important to consider additional factors or news that may have impacted the stock.
As always, it's crucial to conduct thorough research and analysis before making any investment decisions. It's recommended to consult with a financial advisor or professional for personalized investment advice.
Risk Disclaimer: Investing in stocks involves risks, including potential loss of principal. The information provided is for reference purposes only and does not constitute investment advice.
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