EF Hutton downgrades Kimball Electronics on lack of confidence

EF Hutton downgraded Kimball Electronics to Hold from Buy with a price target of $20, down from $34. The company’s guidance points to continued challenges and could be at risk, the analyst tells investors in a research note. The firm says that given the large miss in performance versus expectations in fiscal 2024, it has a lack of confidence in Kimball’s ability to forecast its future earnings. Additionally, given macro pressures, there is little insight into when the company’s sales will stabilize, says EF.