TE Connectivity Approves Additional Share Buyback Worth $1.5B

TE Connectivity Ltd. (TEL) has authorized the repurchase of an additional $1.5 billion worth of shares under its stock buyback program. TE is a technology company that designs and manufactures Read More... The post TE Connectivity Approves Additional Share Buyback Worth $1.5B appeared first on TipRanks Financial Blog.

TE Connectivity Approves Additional Share Buyback Worth $1.5B

TE Connectivity Ltd. () has authorized the repurchase of an additional $1.5 billion worth of shares under its stock buyback program. TE is a technology company that designs and manufactures connectors and sensors for several industries.

Under the program, the company will buy back shares in the open market or through private transactions, subject to business and market conditions.

On April 21, TE Connectivity delivered solid fiscal second-quarter results. The company reported earnings of $1.57 per share, beating Street estimates of $1.48 and rising 22% year-over-year. Moreover, net sales of $3.74 billion outpaced consensus estimates of $3.52 billion and climbed 17% from the year-ago quarter. (See TE Connectivity stock analysis on TipRanks)

Following the earnings announcement, Oppenheimer analyst Christopher Glynn reiterated a Buy rating on the stock and increased the price target to $140 from $130. This implies 2.2% upside potential to current levels.

Glynn commented, “Our Outperform rating reflects our view of extending track record of long-term revenue and margin execution. TEL looks increasingly well positioned for long-term solid organic growth prospects via global positioning against secular demand expansion for high-quality connectivity assurance.”

The rest of the Street is cautiously optimistic about the stock with a Moderate Buy consensus rating based on 6 Buys and 6 Holds. The TEL average analyst price target of $145.64 implies 6.3% upside potential from current levels. Shares have increased 71.4% over the past year.

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The post TE Connectivity Approves Additional Share Buyback Worth $1.5B appeared first on TipRanks Financial Blog.

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Axcella Accumulating Assets; Multiple Therapies in the Pipeline

Time in the market beats timing the market, as the old adage goes. This platitude plays particularly well regarding biotechnology stocks, as one will want to be invested in these stocks well before Read More... The post Axcella Accumulating Assets; Multiple Therapies in the Pipeline appeared first on TipRanks Financial Blog.

Axcella Accumulating Assets; Multiple Therapies in the Pipeline

Time in the market beats timing the market, as the old adage goes. This platitude plays particularly well regarding biotechnology stocks, as one will want to be invested in these stocks well before any big news comes out. Axcella Health Inc. () is no exception, as the company is making strides on breakthrough therapies.  

Analysts are bullish on the stock. One such analyst is Keay Nakae of Chardan Capital Markets, who assigned a Buy rating and a price target of $10. While this price target represents a significant decrease from Chardan’s previous level at $16, it nonetheless reflects a potential upside of 102.02% from the Friday closing share price.  

Nakae explained that Axcella has several drugs and therapies in clinical trials, including one for treating nonalcoholic steatehepatitis (NASH), which he is confident will succeed in the current market despite its competitive nature. He expects the drug to "thrive as a base level therapy due to its impressive safety/ tolerability profile,” and anticipates FDA approval on it by 2026.  

The analyst described a second treatment, one for overt hepatic encephalopathy (OHE), which he expects will receive FDA approval by 2025.  

In the second half of FY21, Axcella plans to disclose its strategy about future advancements of clinical drugs, as well as to “reconnect” later this year with the FDA in regards to the pediatric NASH trials.  

Nakae did list a number of risks threatening the company, namely complicated clinical trials due to COVID-19 restrictions, regulatory delays, supply chain disruptions, and increased competition. 

On TipRanks, Axcella has an average rating consensus of Strong Buy, and an average analyst AXLA price target of $11.25. This reflects a potential 12-month upside of $127.27.  

Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment. 

The post Axcella Accumulating Assets; Multiple Therapies in the Pipeline appeared first on TipRanks Financial Blog.

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