Citi Reiterates Hold On Molex Inc (MOLX)

Citi Investment Research continues to reiterate a Hold rating on Molex Inc MOLX, after the company hosted its analyst meeting yesterday. It has a $23 price target on shares. In the research report, Citi notes, "We are positive on the connector space as we believe the industry continues to benefit from growing electronic content around the world. We maintain our Hold (2H) rating and are making no changes to our model or target price following today’s analyst day. We prefer top pick Amphenol (APH) and Buy-rated Tyco Electronics (TEL) as both companies continue to execute on margins and successfully drive earnings through accretive M&A." Shares of Molex closed at $19.23 yesterday.