NEW YORK, November 30 (FinanceEnquiry.com) – Analysts at Deutsche Bank Securities reiterate their HOLD rating on the shares of TE Connectivity (NYSE: TEL). The 12-month target price is set to $36.00.
In a research note published this morning, the analysts mention that the company announced its plans to acquire connector maker Deutsch for $2billion in cash. Deutsch is presently owned by Wendel, and holds strong position in military, aerospace and industrial transportation as well. This deal will support TEL to expand its position into circular connector and harsh environment segments, and will place the company head to head with APH, the analysts say. The analyst sees the deal as a bit rich when compared to its peer APH and the growth rates being challenged by military / aerospace segments.
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