Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Keysight Technologies shares fall as order trends 'likely to get worse' says BofA

Published 08/14/2023, 10:38 AM
© Reuters.  Keysight Technologies (KEYS) shares fall as order trends 'likely to get worse' says BofA

Keysight Technologies (NYSE:KEYS) tumbled Monday after BofA downgraded the stock to Underperform from Neutral, lowering the price target to $148 from $163 per share in a note.

Analysts told investors that Keysight's order trends are likely to get worse before they get better.

"We expect 3QF23 (July) orders to decline more than consensus and see downside risks to FY24 estimates," the analysts said.

"We are lowering our FY24 adj. EPS by $0.35 to $8.40 (vs. consensus of $8.57). While we view Keysight as a well-managed market share leader, the macro backdrop is likely to limit EPS growth," they added.

KEYS shares are currently down 1.1% at $14.82 per share. However, at the open, the stock opened at $149.80 after closing on Friday at over $156 per share.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.