Truist lowered the firm’s price target on TE Connectivity (TEL) to $239 from $255 and keeps a Hold rating on the shares. The company hosted its first analyst day in 8 years, formalizing an inflection from AI that has already been showing up in estimates, the analyst tells investors in a research note. Investors had expected an AI growth story that included share gains and accelerated growth, but the management said its AI share would be stable, its AI sales would double in the next two years, and that total sales growth would be 6%-8% over the next few years, the firm added.
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