Jefferies downgrades Keysight on assumption with growth priced in

Jefferies downgraded Keysight Technologies (KEYS) to Hold from Buy with a price target of $180, down from $181, after assuming coverage of the name. The firm views Keysight as a “high-quality” industrial company providing electronic design and test solutions that will benefit from continued investment across commercial communications and electronics. Jefferies is positive on the company’s potential for mid-mid-single digit organic growth but believes the stock’s valuation already reflects this.