Truist lowered the firm’s price target on Exponent to $95 from $110 but keeps a Buy rating on the shares. The company’s Q4 results were weaker than expected and its Fy24 outlook underperformed, the analyst tells investors in a research note. Slowdowns in Consumer Electronics demand were a 9% headwind holding revenue growth at 1% y/y, and softer demand is expected to persist into 2024 with net revenues forecast to decline y/y, the firm added.
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