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TE Connectivity price target raised to $220 from $190 at BofA

BofA analyst Wamsi Mohan raised the firm’s price target on TE Connectivity (TEL) to $220 from $190 and keeps a Buy rating on the shares. With the company ramping programs at multiple hyperscalers, BofA believes TE Connectivity’s AI revenue will come in above $800M in FY25 after the company reported about $300M in FY24. Following the fiscal Q3 report, the firm raised its FY25 revenue and EPS estimates to $17.1B and $8.58 from $16.7B and $8.23, respectively.

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