Amphenol price target raised to $125 from $115 at Citi

Citi analyst Asiya Merchant raised the firm’s price target on Amphenol (APH) to $125 from $115 and keeps a Buy rating on the shares. The firm attributes the lack of share rally post the Q2 beat to a “sub-seasonal” outlook and crowded positioning into the report. The analyst points out that Amphenol highlighted some pull forward of artificial intelligence demand from the September quarter into the June quarter. Citi expects the company’s margin momentum to continue.