Craig-Hallum downgrades Knowles to Hold, lowers price target to $17

As previously reported, Craig-Hallum analyst Anthony Stoss downgraded Knowles (KN) to Hold from Buy with a price target of $17, down from $21. The firm is stepping to the sidelines with Knowles as continued inventory digestion, plant consolidation challenges, and a weaker macro likely keep shares range bound near-term. Craig-Hallum notes the company announced a $75M capacitor contract with a leading Energy company which is expected to generate about $25M in revenues beginning in FY26, but believes the company lacks a near-term catalyst.