Tyco Electronics (NYSE:TEL) Boosted by ADCT Contribution

Saying they didn't include ADCT in their prior estimates for Tyco Electronics (NYSE:TEL), UBS added them to their latest projections, adjusting them accordingly.

UBS says, "TE reported Revs/EPS of $3.2b/$0.73, including about $0.03 of one-time benefit, vs. consensus at $3.16b/$0.68. ADCT contributed $51m to sales in the quarter with no impact to EPS. For the March qtr, TE forecast Revs/EPS of $3.5b/$0.72 (at the mid-point) vs. UBSe $3.47b/$0.73 and consensus at $3.48b/$0.75. We adjust our ests and now forecast FY11/FY12 Revs/EPS of $14.1b/$3.11 and $15.2b/$3.39, including ADCT. Our previously published results did not include ADCT."

UBS maintains a 'Buy' rating on Tyco Electronics (TEL), which closed Friday at $36.45, gaining $0.43, or 1.19 percent. UBS raised their price target on Tyco from $36 to $42.