Debt, Pricing Pressures Weigh on Amphenol6/02/2002 8:00 PM Eastern
Prudential Securities analyst Ellen Chae initiated coverage on Amphenol Corp. last Wednesday, with a hold rating and a 12-month price target of $48 per share. Amphenol is near the high end of its historical valuation range, she said, but debt concerns and pricing pressures still weigh on the stock. Although Amphenol's presence in the military and aerospace sector has somewhat offset weakness in other sectors, Chae wrote, the stock is "already discounting a recovery when the demand environment continues to be uncertain." The maker of electronic and fiber-optic connectors, cable and interconnect systems closed at $45 on May 29, down 60 cents.