JPMorgan Lifts Amphenol (APH) PT to $145 on Robust IT, Datacom Demand

Amphenol Corporation (NYSE:APH) is one of the best NYSE stocks to buy and hold for the next decade. On October 16, JPMorgan raised the firm’s price target on Amphenol to $145 from $125 with an Overweight rating on the shares. The firm increased its estimates for the company due to the robust demand across the IT and datacom end markets.

The analyst at JPMorgan noted that these markets have increasingly become the key driver of growth for Amphenol. JPMorgan anticipates that this demand will continue as hyperscalers proceed with deploying dense compute racks that contain a significant amount of content related to connectors.

On October 15, BofA analyst Wamsi Mohan also upgraded Amphenol to Buy from Neutral with a price target of $150, up from $120.

Amphenol Corporation (NYSE:APH), together with its subsidiaries, designs, manufactures, and markets electrical, electronic, and fiber optic connectors in the US, China, and internationally.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.