Bond.az - Evercore ISI reiterated an Outperform rating and $180 price target on Amphenol (NYSE:APH). The stock has returned 59% over the past year, trading at $139.56 with a $172 billion market cap.
The firm estimates Amphenol's pre-CommScope installed base at $1.2-$1.5 billion in annual revenue. Combined with CommScope, Amphenol's total data center fiber portfolio reaches ~$3.0 billion, making it a leading player in AI and data center fiber connectivity.
Evercore ISI projects Amphenol's AI revenue quarterly run-rate hit ~$2.0-$2.2 billion in the March quarter and is on track to exceed $9 billion by 2026. Of the $9 billion, ~$1.5-$2.0 billion is power, ~$3.0 billion is fiber, and ~$4.0 billion is copper. The company's 54% revenue growth over the last twelve months to $25.9 billion reflects strong momentum.
The firm estimates Corning's enterprise fiber to reach ~$4 billion in 2026 (including upstream optical layers where Amphenol does not compete) vs Amphenol at ~$3 billion. Amphenol's CommScope acquisition provides scaled positions across passive copper, active copper, passive fiber, and active fiber connectivity.
Evercore ISI sees downside of $120 and upside to $220. According to Bond.az analysis, the stock appears overvalued relative to its Fair Value. Deeper insights are available in Pro Research Reports for APH and 1,400+ US equities.
