Analysts Downgrade of the Day: TE Connectivity Ltd.

TE Connectivity Ltd (NYSE:TEL) received a stock rating downgrade from Sun Trust Rbsn Humphrey on Mar-29-16. In a note to investors, the firm issued a Neutral rating. The analysts previously had a Buy rating on the stock.

Analysts have a consensus target price of $69.00 in the 12-month period. The price objective is 13.26% higher than the recent closing price of $60.92. The 52-week price range is $51.70-$72.10 and the company has a market capitalization of $22.52 billion. Analysts covering the shares maintain a consensus Strong Buy rating, according to Zacks Investment Research. Zero analyst has rated the stock with a sell rating, 1 has assigned a hold rating, 2 says it’s a buy, and 3 have assigned a strong buy rating to the company.

On March 7, 2016 TE Connectivity (TEL), a world leader in connectivity and sensors, has been recognized by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices, as a 2016 World’s Most Ethical Company.

This year marks the tenth anniversary of Ethisphere and the World’s Most Ethical Companies designation, which recognizes those companies who align principle with action, work tirelessly to make trust part of their corporate DNA, and in doing so, shape future industry standards by introducing tomorrow’s best practices.

TE Connectivity was first recognized in 2015, underscoring its commitment to leading ethical business standards and practices.

“Our values — integrity, accountability, teamwork and innovation — define how we lead and grow our business,” said Tom Lynch, TE Connectivity Chairman and CEO. “We believe an unwavering commitment to these values and practicing the highest standards of ethics drive our success. We’re thrilled to be recognized again as a World’s Most Ethical Company by Ethisphere,”

“Companies rely on Ethisphere to continually raise and measure the standards of corporate behavior. Those that demonstrate leadership in areas like citizenship, integrity and transparency create more value for their investors, communities, customers and employees, thus solidifying a sustainable business advantage,” explained Ethisphere’s Chief Executive Officer, Timothy Erblich. “Congratulations to everyone at TE Connectivity for being recognized as a World’s Most Ethical Company.”

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