Keysight Technologies initiated with an Overweight at Wells Fargo

Wells Fargo analyst Aaron Rakers initiated coverage of Keysight Technologies with an Overweight rating and $200 price target. The company can continue to expand margins by driving its software mix above today’s 20% contribution, Rakers tells investors in a research note. The analyst thinks Keysight is an “underappreciated high-quality earnings story that should prove more resilient amid increasing macro uncertainty.”