Amphenol Price Target Lifted At Deutsche Bank On Quarterly Results, Outlook
Thursday, January 19, 2022 3:06 PM

Deutsche Bank (DB) raised its price target on Amphenol Corp. (NYSE:APH) to $63 from $51, following the company's better-than-expected fourth quarter results and higher first quarter forecast.

"While customers remained cautious in F4Q, order trends suggest improving demand, with book-to-bill at 1.04 for the Q and orders up 4% Y/Y. FY-12 guidance was prudently cautious with growth forecast to be just 4% Y/Y at the midpoint," the bank wrote in a note.

DB, which has a "Buy" rating on the stock, said it continues to see shares as attractively valued.

The Wallingford, Connecticut-based company develops connector and interconnect products for information technology and communications equipment applications.

The stock, which has been trading in the 52-week range between $38.98 and $59.11, rose 2.2 percent to $54.75.