BofA raised the firm’s price target on TE Connectivity (TEL) to $290 from $280 and keeps a Buy rating on the shares. The company posted a beat to Q1 numbers and guided EPS slightly above Wall Street estimates but slightly below BofA expectations, with incremental margins remaining at 30%+ year-over-year and AI revenue raised to $2.2B for FY26B from $2.2B prior, the analyst tells investors in a research note. Th firm added that it expects strong earnings momentum and the multiple to re-rate higher based on both Industrial growth and solid content growth in Transportation.
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