- Amphenol (NYSE:APH) shares dipped around 1% in pre-market trading on Friday after Credit Suisse downgraded the telecom equipment company due to "weakness" in certain markets.
- "We believe weakness in communications related markets (40% of APH) will offset Amphenol’s growth from industrial, aerospace, military, and automotive markets," analyst Guy Hardwick wrote in an investor note.
- Hardwick lowered his rating on Amphenol (APH) shares to neutral from outperform and cut the per-share price target to $77 from $91. He also lowered his estimated earnings for 2023 and 2024.
- Hardwick added that weakness Amphenol (APH) is seeing from several connector industry markets is likely to continue through the rest of the year.
Recommended For You
More Trending News
See More »