Investors Focus Shifts to 4Q Results as Agilent Technologies (A) Closes Seahorse Acquisition; UBS Remains Neutral
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UBS reiterated a Neutral rating on Agilent (NYSE: A), and cut the price target to $42.00 (from $45.00), following the close of Seahorse acquisition. Agilent acquired the company for $235m in cash. The deal is expected to be accretive to FY16 and was debt financed. Investor focus on Agilent now shifts to November 16th, when the company is scheduled to report 4Q15 results and provide firm FY16 guidance.
Analyst Jonathan Groberg commented, "Agilent announced on Monday that it has completed the acquisition of Seahorse Bioscience, a provider of instruments and assay kits for measuring cell metabolism and bioenergetics. Agilent acquired the company for $235m in cash, or ~5x FY15E sales of $49m. The deal is expected to be accretive to FY16 and was debt financed. The business will be folded into Agilent's Mass Spectrometry division."
For an analyst ratings summary and ratings history on Agilent click here. For more ratings news on Agilent click here.
Shares of Agilent closed at $38.59 yesterday.
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