Littelfuse (LFUS) has a favorable long-term growth outlook, supported by solid organic momentum across core end markets and rising exposure to datacenters and infrastructure-related applications, Oppenheimer said in a Friday note.

The brokerage said it maintained its 2026 earnings per share estimate at $12.50, which represents a growth of about 19%. The stock's recent gains reflect growing investor appreciation for Littelfuse's multiyear organic compounding potential as a key supplier of circuit protection and power control components.

Analysts surveyed by FactSet expect 2026 EPS of $12.68.

Oppenheimer said Littelfuse's datacenter business is gaining traction, with datacenter-related sales rising about 8% in Q3. The firm said the sales were supported by expanding design wins and broader product participation across segments. It expects further scaling as the industry migrates toward higher-voltage architectures.

Industrial segment growth has been driven by infrastructure-related design wins, including grid storage, renewables, backup power and cooling applications. The brokerage said the Transportation segment saw commercial vehicle growth in three of the past five quarters despite weaker end markets.

The firm also sees potential upside if Littelfuse moves to exclude acquired intangible amortization from adjusted earnings, estimating such a change could add roughly $1.80 to adjusted earnings per share, excluding any impact from recent acquisitions.

Littelfuse is positioned for sustained organic growth under its new chief executive and chief financial officer, supported by disciplined analytics and commercial execution, according to the note.

Oppenheimer maintained its outperform rating on the stock and raised its price target to $360 from $325.

Price: 295.62, Change: +1.82, Percent Change: +0.62