(APH) Amphenol Corporation – Bull of the Day

October 13th, 2009

Amphenol Corporation (APH) is scheduled to release its fiscal Q3 results on October 15. The company stated that though the economic environment remains uncertain, there was a stabilization of demand in most markets.

We remain optimistic about Amphenol’s long-term growth prospects in the mobile devices business. Demand for mobile phones remains strong. Beyond mobile phones, the company continues to expand the use of its products into fast growing submarkets such as PDAs, laptops and desktop computers.

Based on constant currency exchange rates and some seasonal moderation, APH expects revenues between $670 million and $685 million in Q3:09. EPS is projected within 41 – 43 cents.

We maintain our Outperform rating with a target price of $40.

Zacks Investment Research
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