Goldman Sachs analyst Mark Delaney downgraded Keysight Technologies to Neutral from Buy with a price target of $189, down from $196 as part of a broader research note. The weak macro backdrop should make for a challenging and choppy fundamental environment in 2023, but EVs/ADAS applications are still set to growth and auto production can be up modestly from a low base as supply constraints moderate, the analyst tells investors in a research note. Delaney adds that his rating change on Keysight is also reflecting the company’s above-average exposure to the communications infrastructure market vs. his broader coverage, which is an end market that he expects to slow in 2023.
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Published first on TheFly
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