TE Connectivity Reports Solid Fourth-Quarter Results; Shares Fairly Valued
For the fourth fiscal quarter of 2016, TE Connectivity reported revenue results that were in line with our expectations and delivered earnings per share that exceeded the high end of management’s guidance. TE’s transportation solutions and industrial segments were primary drivers of the strong performance, with stellar growth in the automotive end market, reaffirming our investment thesis. That said, we are raising our fair value estimate for TE Connectivity to $66 from $64 because of the time v...
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