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Te Connectivity stock has reached a new all-time high, hitting 208.14 USD. This milestone reflects a significant upward trend for the company, which has experienced a notable 33.05% increase in its stock price over the past year. The $61.58 billion market cap company trades at a P/E ratio of 42.76, with InvestingPro analysis indicating the stock is currently trading above its Fair Value. The surge in value underscores the market’s confidence in TE Connectivity (NYSE:TEL)’s performance and potential for continued growth. With annual revenue of $16.58 billion and strong returns across multiple timeframes, the company has demonstrated solid market performance. As the company continues to innovate and expand its offerings in the technology sector, investors appear optimistic about its future prospects, contributing to the stock’s impressive gains. For deeper insights into TE Connectivity’s valuation and growth potential, check out the comprehensive Pro Research Report available on InvestingPro.
In other recent news, TE Connectivity reported impressive financial results for the June quarter, with revenue reaching $4.53 billion and earnings per share of $2.27. These figures surpassed analyst expectations, which had projected revenue of $4.32 billion and earnings per share of $2.08. The company experienced a 13.9% year-over-year increase in sales, with organic growth at 9%, largely attributed to strong performance in the Transportation and Industrial segments. Additionally, TE Connectivity’s third-quarter results were bolstered by significant growth in its Industrial segment, leading to record adjusted earnings and sales.
Analyst firms have responded positively to these developments. Evercore ISI raised its price target for TE Connectivity to $200 from $195, maintaining an Outperform rating. BofA Securities also increased its price target to $220 from $190, citing the company’s robust artificial intelligence revenue growth. BofA projects that TE Connectivity’s AI revenue will exceed $800 million in fiscal year 2025, up from approximately $300 million in fiscal 2024, as the company expands its programs with multiple hyperscalers.
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