JPMorgan has raised its target price for Amphenol (NYSE:APH) to $185.00 from $160.00 while maintaining an Overweight rating on the stock. That new target implies upside from Amphenol’s most recent trading level of $155.56, and the shares are changing hands close to a 52-week high of $157.54.
The bank pointed to Amphenol’s completed acquisition of CCS from CommScope as a central factor behind its updated outlook. JPMorgan said the purchase positions Amphenol to participate more broadly in the Optical total addressable market through CCS’s passive optical product set and materially increases the company’s exposure to the IT & Datacom market.
JPMorgan revised its estimate of Amphenol’s IT & Datacom market exposure to about $12.7 billion in 2026, up roughly 15% from a prior estimate of $11.1 billion. The firm also characterized the CCS transaction as significantly accretive, referencing management guidance that points to approximately 14% revenue growth and an estimated $0.15 of earnings accretion attributable to the deal.
The analyst note emphasized recent operating momentum at Amphenol, highlighting more than 40% organic revenue growth in each of the last two quarters and an average organic growth rate of 34% across the last four quarters. Those top-line gains have translated into meaningful earnings expansion, with reported increases of 85% year-over-year in the last two quarters and 65% year-over-year across the most recent four quarters.
Market data cited alongside the firm’s commentary show 47.36% revenue growth for Amphenol over the trailing twelve months. Valuation metrics in the briefing included a price-to-earnings ratio of 51.82 and a PEG ratio of 0.69, the latter suggesting the firm may be seeing reasonable valuation relative to the company’s growth profile despite a high P/E multiple.
JPMorgan also identified demand drivers that could support Amphenol’s passive component businesses following the acquisition. The bank noted potential content growth on Vera Rubin GPU platforms and strengthening optical interconnect demand driven by hyperscaler build-outs of large compute clusters, both of which are expected to create tailwinds for the passive optical components brought in through CCS.
Analyst coverage shows a wide range of views. Price targets among analysts span from $115 to $200, and the consensus recommendation sits at 1.78 on the buy-sell scale, consistent with a Buy-leaning stance. A dedicated research report covering this and other names is available through the subscription service noted in the original market briefing.
Other broker responses to Amphenol’s strategic move have been notable. Amphenol completed the acquisition of CommScope’s Connectivity and Cable Solutions business in a transaction valued at $10.5 billion. Brokers characterized the deal as the company’s largest to date.
Truist Securities estimated the transaction would raise Amphenol’s sales by roughly 17% and subsequently raised its price target on the shares to $182 while maintaining a Buy rating. Barclays moved to upgrade Amphenol from Equalweight to Overweight, citing rising demand for AI data center solutions as a catalyst, and lifted its target to $156.
Separately, Amphenol announced an open offer to acquire up to 26% of ADC India Communications, which could be valued at approximately $16.36 million if fully subscribed. Together, these moves are presented by the company and analysts as part of a broader strategy to expand Amphenol’s capabilities in fiber optic and industrial interconnect solutions.
The series of analyst adjustments and the company’s strategic activity have coincided with a strong run in the stock. The shares returned 132.27% over the past year, according to the market figures referenced in the analyst commentary. Investors and market participants will be watching the realization of management’s revenue and earnings guidance for the CCS business and how demand from hyperscalers and AI-related infrastructure trends evolve.