Keysight Technologies downgraded to Equal Weight from Overweight at Barclays

Barclays analyst Tim Long downgraded Keysight Technologies to Equal Weight from Overweight with a price target of $144, down from $204. The company reported in-line fiscal Q3 revenue but orders fell 6% sequentially as demand deteriorates, the analyst tells investors in a research note. Auto continues to show strength, but Keysight’s commercial communications unit remains weak and semi demand is “finally deteriorating,” says the firm. Barclays does not expect a growth catalyst for the company until the second half of 2024.