Citi Reiterates Hold On TNB

Citi has issued a report reiterating a Hold Rating on Thomas & Betts Corporation TNB. According to the report, "Hold-rated Thomas & Betts delivered an as-expected 2Q11 at the high-end of the range but only boosted the low-end of EPS guidance by 5c to $3.20-$3.35. The more cautious tone was attributed to the array of prevailing macro headwinds." TNB has a $60 Price Target and closed at $54.60 yesterday.