Cantor Fitzgerald lowered the firm’s price target on Kimball Electronics to $22 from $28 and keeps an Overweight rating on the shares. Kimball is navigating a weakening macroeconomic backdrop that has led to another downward revision to the firm’s estimates, the analyst tells investors in a research note. Absent the advanced braking program loss, Automotive is experiencing weakening end-market demand that’s leading to downward revisions to production estimates, and the Industrial segment ex-U.S. is slightly worse than expected, driven by competition and the weakening macro environment, the firm says.
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