BofA raised the firm’s price target on TE Connectivity (TEL) to $168 from $160 and keeps a Buy rating on the shares after the company reported fiscal Q2 revenue and EPS that beat the firm’s and Street’s forecasts with the beat coming from better results in both Industrial and Transportation segments. TE continues to deliver solid overall growth and profitability despite a weaker auto production backdrop and difficult macro environment, the analyst tells investors.
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