Keysight Technologies downgraded to Neutral from Overweight at JPMorgan

JPMorgan analyst Samik Chatterjee downgraded Keysight Technologies to Neutral from Overweight with a price target of $170, down from $184. The earnings season has highlighted the incremental headwinds in the industrial customer vertical as most companies have highlighted further deterioration in demand trends, the analyst tells investors in a research note. The firm believes expectations of sequential improvement in revenue and earnings through the year on behalf of consensus are overly optimistic. JPMorgan says lowered estimates and a lack of catalysts for Keysight lead it to expect more limited upside to the shares from current prices.