Sensata Technologies surges on Q1 results beat

Sensata Technologies Holding

30/04/2024 12:34

** Shares of industrial sensor-maker Sensata Technologies
 ST.N  jump 19% to $42.60 premarket
    ** Co's Q1 adj. EPS of 89 cents beats analysts' estimates of
85 cents - LSEG data 
    ** Q1 revenue of $1.01 bln above estimates of $986.5 mln 
    ** Sensata appoints Martha Sullivan as interim President and
CEO as Jeff Cote to retire from role
    ** Four brokerages raise their PTs on co following results
    ** Brokerage J.P.Morgan sees management changes and activist
investor Elliott Management's material stake in co as positive
development with regard to potential sale of co's non-core
assets 
    ** Four brokerages maintain a "buy" or higher rating on co,
11 maintain "hold" and one rates it "sell"; median PT at $46 -
LSEG data 
    ** Stock has lost 4.8% so far this year, until last close 

 (Reporting by Purvi Agarwal in Bengaluru)
 ((Purvi.Agarwal@thomsonreuters.com))