Sensata price target raised to $34 from $33 at Wells Fargo

Wells Fargo raised the firm’s price target on Sensata (ST) to $34 from $33 and keeps an Equal Weight rating on the shares. The firm notes the stock is up about 5% post-market after Q3 beat and likely conservative Q4 guide. Outgrowth turned positive, though HVOR and housing markets look challenged. China GoM turn positive, helped by Q2 wins, Wells adds, noting that management delivered on over 19% margin, over 80% free cash flow conversion and de-lever promises.