Keysight Technologies (KEYS) shares are soaring 6.15% in pre-market trading on Wednesday following the release of its fiscal second-quarter earnings report that exceeded Wall Street expectations. The electronic test equipment manufacturer's strong performance and positive analyst sentiment are driving the stock's upward momentum.
Keysight reported adjusted earnings of $1.70 per share on revenue of $1.31 billion for the quarter, surpassing analysts' forecasts of $1.65 per share and $1.28 billion in revenue. The company's ability to outperform expectations in a challenging market environment has bolstered investor confidence.
Adding to the positive sentiment, several analysts have reaffirmed their bullish stance on Keysight. Wells Fargo analyst Aaron Rakers maintained a Buy rating on the stock with a price target of $190, while Deutsche Bank raised its target price to $186 from $181. Barclays analyst Tim Long also maintained a Buy rating. The average analyst rating for Keysight remains "overweight" with a mean price target of $185.55, according to FactSet data. These endorsements from Wall Street analysts underscore the company's strong market position and growth potential, further fueling the pre-market rally.
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