Keysight upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley upgraded Keysight Technologies to Overweight from Equal Weight with an unchanged price target of $165. The stock’s current downturn “presents a strong buying opportunity,” the analyst tells investors in a research note. The firm says Keysight’s valuation currently misses its double digit earnings profile and diverse and long-term revenue growth drivers. While near-term estimates could still come in slightly, the company should see a recovery in early 2024, contends Morgan Stanley.