Jim Cramer: Cuts Qnity Price Target to $165 After Strong Q3

According to CNBC, Qnity Electronics reported third-quarter revenue of $1.56 billion, up 22% from a year earlier and above the $1.49 billion analyst consensus, while adjusted earnings per share rose 55% to $1.46, topping the $1.20 estimate. The stock fell nearly 6% intraday before recovering most of its losses. Jim Cramer lowered his price target to $165 from $180, maintained a buy-equivalent rating and said the post-earnings decline made the shares more attractive; the revised target implies 38% upside from current levels. Qnity raised its full-year outlook, expecting sales of $5.77 billion to $5.83 billion and adjusted earnings per share of $4.95 to $5.05.