Kimball Electronics price target lowered to $28 from $33 at Cantor Fitzgerald

Cantor Fitzgerald lowered the firm’s price target on Kimball Electronics to $28 from $33 and keeps an Overweight rating on the shares. Broad macro headwinds are having a greater impact on FY24 than previously thought, the analyst tells investors in a research note. The historically strong industrial segment in Europe is experiencing incremental weakness, while a broader slowdown globally is leading to excess inventory and some order de-commits, the firm says.