• Citigroup maintains a "Buy" rating for Amphenol Corporation (NYSE:APH), raising its price target from $82 to $89.
• Amphenol's performance in the fourth quarter, particularly in artificial intelligence sales, has been a key factor in Citigroup's positive outlook.
• The company's stock has seen a 7.04% increase, reaching its highest price over the past year at $78.25.

Amphenol Corporation, listed on the NYSE under the symbol APH, is a leading provider of electronic and fiber optic connectors, cable, and interconnect systems. The company serves a wide range of industries, including automotive, broadband communications, and information technology. Amphenol competes with other major players in the electronics industry, such as TE Connectivity and Molex.

On January 23, 2025, Citigroup maintained its "Buy" rating for Amphenol, while the stock action remains as "hold." At the time, the stock price was $77.84. Citigroup also raised its price target for Amphenol from $82 to $89, as highlighted by TheFly. This reflects Citigroup's confidence in Amphenol's future performance.

Amphenol's strong performance in the fourth quarter has been a key factor in Citigroup's decision to raise the price target. The company exceeded expectations and provided optimistic guidance for the first quarter. Sales related to artificial intelligence contributed between $450 million and $500 million in the fourth quarter, with order momentum gaining pace during this period.

Citigroup anticipates that the ongoing momentum in AI spending, along with a cyclical recovery in traditional data centers and beneficial acquisitions, will further boost Amphenol's earnings growth rates. This positive outlook supports the increased price target and the maintained "Buy" rating.

The stock has experienced a price change of $5.12, reflecting a 7.04% increase. Today, it reached a low of $73.22 and a high of $78.25, marking its highest price over the past year. With a market capitalization of approximately $93.84 billion and a trading volume of 13,032,038 shares, Amphenol remains a significant player in the market.