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Citi ups Amphenol target, opens ‘upside 90-day short-term view’

Citi raised the firm’s price target on Amphenol (APH) to $100 from $85 and keeps a Buy rating on the shares. The firm also added a “upside 90-day short-term view” on Amphenol citing improving connector demand on NVLink Fusion. An improving artificial intelligence demand outlook coupled with expansion of NVLink, Nvidia’s (NVDA) proprietary interconnect technology, to include other manufacturers should help expand the demand profile for existing high-speed, low latency connectors used in current Nvidia-based GB200 AI systems, the analyst tells investors in a research note. Citi views this as a positive for connector names, specifically Amphenol, which it says has a leading share in high-speed low latency interconnects.

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