Stephens lowered the firm’s price target on CTS Corporation to $39 from $41 and keeps an Equal Weight rating on the shares. CTS Corporation’s Q3 results slightly missed Street expectations, which was primarily due the company’s revenue miss as headwinds in the industrial end markets remain, the analyst tells investors. The magnitude of the revenue and earnings pressure is greater than the firm originally anticipated and, looking into 2024, the firm believes it could continue to be a challenging set-up for the company.
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Read More on CTS:
- CTS Announces Third Quarter 2023 Results
- CTS Corporation cuts FY23 adjusted EPS view $2.15-$2.25 from $2.20-$2.40,
- CTS Corporation reports Q3 adjusted EPS 54c, consensus 56c
- CTS Corporation (CTS) Q3 Earnings Cheat Sheet
- CTS Corporation Announces Date for Third Quarter 2023 Earnings Release and Conference Call
