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.
是德科技公司（紐約證券交易所代碼：KEYS）股價週一上漲，此前摩根大通分析師薩米克·查特吉將該公司從中性上調至增持，並將目標股價從170美元上調至200美元。
The analyst' bullish stance reflects expectations of broadening demand drivers and a cyclical recovery in end-markets through 2025.
分析師的看漲立場反映了對需求驅動因素擴大和終端市場到2025年週期性復甦的預期。
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2024年面臨包括更高的資本成本、行業增長放緩和庫存消化在內的挑戰之後，分析師認爲Spirent的收購推動了復甦。
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.
查特吉說，這將增強是德科技在週期性市場中的槓桿作用，並通過運營協同效應提高利潤率，朝着營業利潤率31％至32％的長期目標邁進。
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.
在最近的下行壓力下，收益修正顯示出上行空間，分析師預計，是德科技將恢復溢價估值倍數，這反映了管理層強勁的業績記錄和高質量的收益，同時對適度的收入增長具有重大槓桿作用。
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.
該分析師上調了25財年的有機增長預期，預計收入增長將更強勁，尤其是在下半年，並考慮了思博倫的貢獻。因此，預計25財年每股收益將增長12％，26財年每股收益將增長17％。
Chatterjee expects demand drivers to broaden beyond the current focus on AI as the company transitions from FY24 to FY25.
Chatterjee預計，隨着公司從24財年過渡到25財年，需求驅動因素將擴大到目前對人工智能的關注之外。
With lower interest rates and capital costs, the analyst anticipates increased customer spending, particularly from traditionally cautious sectors, adds the analyst.
分析師補充說，隨着利率和資本成本的降低，分析師預計客戶支出將增加，尤其是來自傳統謹慎行業的客戶支出。
The analyst says that includes stronger demand from telecom customers, growth in semiconductor capital spending, and potential improvements in consumer and industrial demand.
這位分析師表示，這包括電信客戶需求的強勁，半導體資本支出的增長以及消費者和工業需求的潛在改善。
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.
分析師補充說，這將有利於包括智能手機芯片組供應商和工業技術公司在內的更廣泛客戶的研發和生產測試需求。
The analyst writes that Keysight is positioned to benefit from a more favorable industry environment compared to the challenges faced in FY24.
該分析師寫道，與24財年面臨的挑戰相比，是德科技有望從更有利的行業環境中受益。
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).
投資者可以通過VictoryShares泰銖中型股ETF（納斯達克股票代碼：MDCP）和美國世紀中型股增長影響力ETF（紐約證券交易所代碼：MID）獲得股票敞口。
Price Action: KEYS shares are up 3.14% at $171.73 at the last check Monday.
價格走勢：週一最後一次檢查時，KEYS股價上漲3.14％，至171.73美元。
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