Evercore ISI Upgrades Amphenol to Outperform as Brevan Howard Cuts Stake 93.7%
Evercore ISI upgraded Amphenol to Outperform, lifting the stock 1.16% to $138.39 after a $1.59 gain. Brevan Howard slashed its position by 93.7% to 28,360 shares ($3.51M), while Financial Management Professionals upped its stake by 82.6%, illustrating divergent hedge fund moves.
1. Analyst Upgrade
Evercore ISI elevated Amphenol to an Outperform rating at a reference price of $138.12, prompting a 1.16% stock gain to $138.39. This upgrade reflects expectations of stronger performance relative to the broader market.
2. Hedge Fund Stake Changes
Brevan Howard Capital Management reduced its Amphenol stake by 93.7%, selling 420,985 shares and retaining 28,360 shares valued at $3.51 million. In contrast, Financial Management Professionals increased its holdings by 82.6%, and Alpine Bank Wealth Management opened a new $30,000 position.
3. Trading Volume and Volatility
Amphenol traded 6.96 million shares with a $170.1 billion market cap, fluctuating between $137.70 and $144.20 on the day. The 52-week range spans $56.45 to $167.04, underscoring persistent stock volatility.