Amphenol price target raised to $82 from $76 at Truist

Truist analyst William Stein raised the firm’s price target on Amphenol (APH) to $82 from $76 and keeps a Buy rating on the shares. The company’s Q3 results were “excellent”, reflecting upside in revenue, margins, and earnings, while its elevated book to bill ratio reflects a growing kicker for AI systems linked to NVIDIA (NVDA), the analyst tells investors in a research note. Truist is also raising its FY24 and FY25 EPS view by 7c each to $1.82 and $2.09 respectively.