TE Connectivity Ltd (TEL) is Reiterated by RBC Capital Mkts to Outperform, Lowers Price Target to $ 63

TE Connectivity Ltd (TEL) was Reiterated by RBC Capital Mkts to “Outperform” while Lowering the Price Target of the company shares to $ 63 from a previous price target of $66 . RBC Capital Mkts advised their investors in a research report released on Jul 1, 2016.

Many Wall Street Analysts have commented on TE Connectivity Ltd. TE Connectivity Ltd was Downgraded by Goldman to ” Neutral” on May 9, 2016.

On the company’s financial health, TE Connectivity Ltd reported $0.90 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $0.89. The company had revenue of $2952.00 million for the quarter, compared to analysts expectations of $2978.44 million. The company’s revenue was down -4.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.91 EPS.

TE Connectivity Ltd opened for trading at $55.8 and hit $56.4 on the upside on Wednesday, eventually ending the session at $56.09, with a gain of 1.41% or 0.78 points. The heightened volatility saw the trading volume jump to 20,40,370 shares. Company has a market cap of $20,059 M.

In a different news, on Jun 14, 2016, Thomas J Lynch (Chairman & CEO) sold 87,958 shares at $61.45 per share price. According to the SEC, on Mar 11, 2016, Terrence R Curtin (President & Director) sold 369 shares at $59.13 per share price. On Mar 1, 2016, Robert W. Hau (EVP & Chief Financial Officer) sold 36,450 shares at $57.56 per share price, according to the Form-4 filing with the securities and exchange commission.

TE Connectivity Ltd. (TE Connectivity) is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates its business through three segments: Transportation Solutions which offers various products including terminals and connector systems and components relays circuit protection devices sensors and application tooling among others; Industrial Solutions which include terminals and connector systems and components heat shrink tubing relays wire and cable and Communications Solutions which include terminals and connector systems and components circuit protection devices antennas relays and heat shrink tubing. It markets its products to manufacturers and distributors in a number of markets which include automotive industrial equipment and consumer devices.

TE Connectivity Ltd

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