Sensata Technologies Faces Challenges Navigating EV Headwinds, Goldman Sachs Analyst Warns

News Snapshot:

Goldman Sachs analyst Mark Delaney downgraded Sensata Technologies Holding Plc (NYSE:ST) to Neutral from Buy, lowering the price forecast to $36 from $44. Delaney projects slower near to intermediate-term revenue growth in its North American auto business tied to EVs due to weaker near-term EV sales and some traditional OEMs delaying certain EV launches. Sensata has about 1.5X the content on a battery electric vehicle vs. an internal combustion engine vehicle in North America, compared to 0.5X in Europe and 1.25X in China. Sensata noted that in China, it tends to have about 50% lower average content on domestic brands...