Amphenol price target raised by $12 at Truist, here’s why

Truist raised the firm’s price target on Amphenol to $109 from $97 and keeps a Buy rating on the shares after meeting with its management. The company offered a more constructive tone on its cyclical dynamics and M&A capabilities, which are sounding “more robust than ever”, the analyst tells investors in a research note. While the management did not explicitly state it was past the worst of the current cycle, it noted that orders in Q3 were flat y/y, and that the bottom was certainly close, the firm added.