Kimball Electronics price target lowered to $27 from $31 at Lake Street

Lake Street lowered the firm’s price target on Kimball Electronics to $27 from $31 and keeps a Buy rating on the shares after the company reported revenue and EPS below estimates and lowered FY24 guidance, citing sequential declines in the Automotive and Industrial segments. The firm does not believe the current headwinds are related to market share loss or any significant change in the company’s long-term opportunities, but rather just “an air pocket in demand,” the analyst tells investors.