Keysight Technologies jumps after Q3 revenue beat
Updates
** Keysight Technologies' KEYS.N shares rise12.4%to $155.8; stock hit more than three-month high in day trading
** Electronic equipment maker's Q3 revenue fell ~12% YoY to $1.22 bln, but beat analysts' avg. est. of $1.19 bln - LSEG data
** Posts Q3 profit of $1.57/shr, above est. of $1.54/shr, on higher orders despite macroeconomic pressures
**Q3 orders rise to $1.25 bln from $1.24 bln a year ago
** Co forecastsQ4 revenue of $1.24 bln-$1.26 bln vs est. of $1.25 bln
** Expects Q4 adj. EPS of $1.53-$1.59 vs est. of $1.54
** JP Morgan raises PT to$165 from $155; says KEYS' "execution in relation to margins and the tax rate does drive an increase in our FY25 and FY26 estimates"
** Wells Fargo resumes coverage with "overweight" rating; says co's order and backlog recovery, along with AI-driven Wireline growth, should drive positive sentiment
** Nine of 13 brokeragesrate stock "buy" or higher, three "hold" and one "sell"; their median PT is $165.00
** Including session's moves, KEYS down 2.24% YTD, compared with 17.44%increase in S&P 500 index .SPX
Reporting by Nikhil Sharma in Bengaluru
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