UBS analyst Andrew Spinola raised the price target on Keysight Technologies (NYSE: KEYS) to $230.00 (from $220.00) while maintaining a Buy rating.

The analyst comments "Keysight reported a strong FQ4 with orders up 14% and Commercial Communications accelerating to up12% driven by AI/Data Center and stronger than expected results in both Aero/Defense (up 9%) and the EISG segment (9%). Gross margin was also better at 64.3% vs our 63.6% as the tariff impact was less than feared and the revenue benefit. F26 outlook is for growth at or above the LT range of 5-7%, which leads us to raise F26/F27 ests. The Buy thesis from our initiation was that the stock had languished because of several headwinds (wireless & auto slowing, tariffs), but the business was inflecting as the headwinds have dissipated or reversed and AI/Data Center demand was driving an acceleration in those businesses. We think the thesis is playing out and see additional upside in the shares as the pricing offsets to tariffs continue to flow through, synergies from the acquisitions, which the company sized at $100M vs. our $56M (along with other general efficiencies), begin to be realized over the next 12-18 months, and the shares re-rate to reflect the acceleration in the business. We raise our price target to $230 from prior $220 to reflect the improved outlook."