Company Notes

The shares of Sanmina (SANM; $175.46; O/P) have now almost fully “reversed course” from the end of March, by a remarkable 40%+, to levels that still leave it nearly 5% shy of where the stock…

We reiterate our Outperform and raise our target from $400 to $475 on the shares of Celestica (CLS; $401.34) ahead of its Q1 results, scheduled for next Monday (4/27 after market). We note recent data…

We are raising our target from $65 to $75 on the shares of Benchmark Electronics (BHE; $65.28; O/P) ahead of its Q1 results, scheduled for April 29th (after market). Our incremental bullishness on the stock…

We stick with our current EPS estimates for Belden (BDC; $132.47; E/W) into the company’s Q1 results and guidance, which are scheduled for April 30th (before market). Admittedly, BDC may be only one of the…

We reiterate our Outperform and $135 target on the shares of TTM Technologies (TTMI; $117.04) ahead of its Q1 results and guidance, scheduled for April 29th (after market). We expect management to produce a healthy…

We think Corning (GLW; $168.14; E/W) produces a very solid set of Q1 results and guidance, which are scheduled for April 28th (before market), including healthy upside from Optical Communications (~40% of 2026E sales and…

We reiterate our $180 target and Outperform on the shares of Amphenol (APH; $145.54; O/P) ahead of its Q1 results and guidance, scheduled for April 29th (before market). We expect some broadly positive organic growth…

We reiterate our Outperform and $290 target on the shares of TE Connectivity (TEL; $236.88) ahead of its FQ2 (Mar) results and guidance, scheduled for next Wednesday (4/22 before market). From our seat, TEL shares…

We think near-term prospects for the shares of Vertiv (VRT; $310.51; E/W) are best considered from a more holistic point, considering its upcoming Q1 print, scheduled for April 22nd (before market), plus the company’s Investor…

We think this week’s news that Volkswagen’s (VOW.DE; €91.45; NR) MOIA America and Uber Technologies (UBER; $71.81; E/W) are starting on-road autonomous validation of Volkswagen’s ID. Buzz vehicles is another supportive data point for Mobileye’s…

This morning’s Shareholder Letter from Amazon’s (AMZN; $233.65; NR) CEO Andy Jassy, highlighted how the company continues to pursue multiple paths in pursuit of building out a full-fledged on-demand grocery delivery service, which we think…

We initiate coverage of the shares of Versigent (VGNT; $28.34) with an Outperform and $35 target given our belief that the stock looks like a mispriced asset after being spun out by Aptiv (APTV; $60.63;…

Yesterday, Uber Technologies (UBER; $72.55; E/W) added to a recently long string of robotaxi announcements of the past five weeks or so, starting with the formal launch of its Uber Autonomous Solutions offering in late-February…

This morning, Flex (FLEX; $60.76; O/P) announced it was adding to its critical power portfolio with a definitive agreement to acquire Electrical Power Products (EPP) for $1.1B in an all cash transaction, which is before…

This morning, Uber Technologies (UBER; $69.46; E/W) announced an agreement to acquire Blacklane, which was founded in 2011, a chauffeur service provider that operates on a global basis. Uber did not disclose any financial details…