Keysight gains as AI data center demand drives upbeat Q4 forecast
BUZZ-Keysight gains as AI data center demand drives upbeat Q4 forecast ** Shares of Electronic equipment maker Keysight Technologies KEYS.N up 2.65% to $350.04 premarket
** Co forecast Q4 revenue and profit above Wall Street estimates on Tuesday, driven by strong demand for its software and tools as companies accelerate investments in AI data center infrastructure
** Co forecast Q4 adjusted profit of $3.34 to $3.40 per share and revenue of $1.93 bln to $1.95 bln, above analyst's estimates of $2.70 per share and $1.81 bln
** J.P. Morgan says accelerating revenue growth and a growing backlog point to strong long-term demand trends for KEYS, which could support an increase in co's long-term growth target
** Following the results, at least five brokerages raised PT on the stock, according to data compiled by LSEG
** 11 of 13 brokerages rate the stock "buy" or higher, 2 "hold"; their median PT is $405 - LSEG-compiled data
** As of last day's close, stock up 68% YTD
(Reporting by Kanishka Ajmera in Bengaluru)
((mail to: Kanishka.Ajmera@thomsonreuters.com))