Citi opens ‘positive catalyst watch’ on Amphenol into earnings

Citi analyst Asiya Merchant opened a “90-day positive catalyst watch” on shares of Amphenol while keeping a Buy rating on the name with an $81 price target. The analyst believes the company is well positioned to benefit from improving underlying connector market demand trends and will be a beneficiary of increasing artificial intelligence-related tech infrastructure spending. At earnings the firm expects Amphenol could see upside potential on improving demand trends across its IT datacom segment as well as mobile devices.