Citi lowered the firm’s price target on Keysight Technologies to $174 from $200 and keeps a Buy rating on the shares. The company reported worsening order trends and a normalized backlog, the analyst tells investors in a research note. The firm says the “solid” July quarter results were overshadowed by the below consensus outlook, as inventory digestion and weakness in China weigh on the business. Citi says the lack of a near-term catalyst for the next six months will be an overhang on the shares.
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Read More on KEYS:
- Keysight (NYSE: KEYS) Plunges as Q4 Outlook Misses the Mark
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