After Amphenol (APH) announced an agreement to acquire Trexon – a provider of interconnect and cable assembles, primarily for the defense market – for approximately $1B in cash and said the deal is expected to be accretive to earnings per share in the first year post closing, Evercore ISI analyst Amit Daryanani said the firm thinks Amphenol will continue using mergers and acquisitions to “derive value and enhance its growth profile.” The firm, which estimates M&A can add about 20c-25c in EPS longer term, has an Outperform rating and $110 price target on Amphenol shares.
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