Keysight's Spirent Acquisition And Cyclical Recovery To Drive 12% EPS Growth In FY25; JP Morgan Upgrades Stock
Keysight's Spirent Acquisition And Cyclical Recovery To Drive 12% EPS Growth In FY25; JP Morgan Upgrades Stock
Chatterjee says that this will enhance Keysight's leverage in cyclical markets and improve margins through operational synergies, moving toward a long-term target of 31% – 32% operating margins.Keysight Technologies Inc. (NYSE:KEYS) shares are trading higher on Monday after JP Morgan analyst Samik Chatterjee upgraded the company to Overweight from Neutral and raised the price target to $200 from $170.
Keysight Technologies Inc. (纽交所:KEYS) 的股票在周一交易中上涨，原因是JP Morgan的分析师Samik Chatterjee将该公司评级从中立上调至看多，并将目标价从170美元提高至200美元。
The analyst' bullish stance reflects expectations of broadening demand drivers and a cyclical recovery in end-markets through 2025.
分析师的看好立场反映了对需求驱动因素的广泛预期，以及预计到2025年的周期性复苏。
After facing challenges in 2024, including higher capital costs, slower industry growth, and inventory digestion, the analyst sees recovery driven by the Spirent acquisition.
在面临2024年的挑战，包括较高的资本成本、行业增长放缓和库存消化后，分析师认为复苏将由对Spirent的收购推动。
Chatterjee says that this will enhance Keysight's leverage in cyclical markets and improve margins through operational synergies, moving toward a long-term target of 31% – 32% operating margins.
Chatterjee表示，这将增强Keysight在周期性市场中的杠杆作用，并通过运营协同效应改善利润率，朝着31%-32%的长期目标利润率迈进。
With earnings revisions showing upside after recent downward pressures, the analyst expects Keysight to return to premium valuation multiples, reflecting management's strong track record and high-quality earnings with significant leverage on modest revenue gains.
随着盈利修正展示出近期下行压力后的上行潜力，分析师预计Keysight将恢复到高端估值倍数，反映出管理层的强大业绩记录和高质量的每股收益，并在适度的营业收入增长上有显著杠杆。
The analyst raised FY25 organic growth forecasts, anticipating stronger revenue growth, especially in the second half, and factoring in Spirent's contribution. This leads to a forecast of 12% EPS growth in FY25 and 17% in FY26.
分析师提高了FY25有机增长预期，预计下半年营业收入增长将更强，且考虑到Spirent的贡献。这导致FY25的每股收益预期增长12%，FY26的预期增长17%。
Chatterjee expects demand drivers to broaden beyond the current focus on AI as the company transitions from FY24 to FY25.
Chatterjee预计，需求驱动因素将超越当前对人工智能的关注，随着公司从FY24过渡到FY25。
With lower interest rates and capital costs, the analyst anticipates increased customer spending, particularly from traditionally cautious sectors, adds the analyst.
随着利率期货和资本成本降低，分析师预测客户支出将增加，特别是来自传统上较为谨慎的行业板块，分析师补充道。
The analyst says that includes stronger demand from telecom customers, growth in semiconductor capital spending, and potential improvements in consumer and industrial demand.
分析师表示，这包括来自电信客户的更强劲需求、半导体资本支出的增长，以及消费和工业需求的潜在改善。
This will benefit R&D and production test demand from a wider range of customers, including smartphone chipset suppliers and industrial technology companies, adds the analyst.
分析师补充说，这将使来自更广泛客户群的研发和生产测试需求受益，包括智能手机芯片供应商和工业科技公司。
The analyst writes that Keysight is positioned to benefit from a more favorable industry environment compared to the challenges faced in FY24.
分析师写道，与FY24面临的挑战相比，Keysight在更有利的行业环境中具有获益的潜力。
Investors can gain exposure to the stock via VictoryShares THB Mid Cap ETF (NASDAQ:MDCP) and American Century Mid Cap Growth Impact ETF (NYSE:MID).
投资者可以通过VictoryShares THb Mid Cap ETF（纳斯达克：MDCP）和美国世纪中型成长影响ETF（纽交所：MID）来获得对该股票的投资。
Price Action: KEYS shares are up 3.14% at $171.73 at the last check Monday.
价格动态：KEYS股票最后一次检查时上涨3.14%，报171.73美元。
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