Goldman Sachs analyst Mark Delaney raised the firm’s price target on TE Connectivity (TEL) to $306 from $304 and keeps a Buy rating on the shares. The company’s Q1 results illustrated the growth potential of the business, with organic revenue up 15% y/y and orders at a record high, with contributions from multiple key applications including AI/datacenter, energy infrastructure, and high speed data connectivity in vehicles to support autonomy, the analyst tells investors in a research note. The firm adds that it continues to expect the company to generate strong growth from here, with a portion of the record Q1 orders longer-dated for AI build-outs.
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