Jefferies Starts Keysight Technologies (KEYS) at Buy

Jefferies initiates coverage on Keysight Technologies (NYSE: KEYS) with a Buy rating and a price target of $41.00.

Analyst Brandon Couillard comments, "KEYS' spin-off from Agilent (NYSE: A) will enable it to better allocate resources and maximize its potential, in our view. Present valuations (EV of 7.3x CY15E EBITDA / 11.6x EPS / 9.4x uFCF) imply a ~35% discount to peers and already appear to discount limited NT visibility & potential post-distribution selling pressure. Our $41 target (~30% upside) implies a more rational ~15% discount to its T&M peers."

For an analyst ratings summary and ratings history on Keysight Technologies click here. For more ratings news on Keysight Technologies click here.

Shares of Keysight Technologies closed at $31.50 yesterday.

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