Sensata initiated with an Equal Weight at Wells Fargo

Wells Fargo initiated coverage of Sensata (ST) with an Equal Weight rating and $20 price target The firm cites its cautious view on tariffs and underlying challenges to the company’s end markets for the neutral rating. While Sensata trades at a large discount to its historical multiple, Wells waits for a better entry point given the near-term risks, the analyst tells investors in a research note. The firm believes the company’s short-term growth may be challenged given its “weak” content on electric vehicles in Europe and China.