UPDATE: Stifel Initiates Coverage On Sensata Technologies On Growth & Cash Flow Story

In a report published Tuesday, Stifel analyst Matthew Sheerin initiated coverage on Sensata Technologies Holding N.V. (NYSE: ST) with a Buy rating and $60.00 price target.

In the report, Stifel noted, “Initiating research coverage on shares of Sensata Technologies with a Buy rating and a $60 target price. Sensata, based in Attleboro, MA, is the leading supplier of automotive sensors and a top supplier of electric controls in the appliance/HVAC and automotive markets. We view Sensata as a growth and cash flow story, with above-market growth potential, aggressive M&A and related restructuring programs, and significant earnings leverage. The company also trades at a reasonable P/E valuation, in our view and below some of its competitors, at 16.5x vs. 17.2x for the average peer group. Our 12-month $60 target price, is based on ~20x our CY15 EPS estimate of $3.05.”

Sensata Technologies closed on Monday at $50.25.