Stifel Upgrades Agilent (A) to Buy; 'Preferred Instrument Name'

Stifel analyst Daniel Arias upgraded Agilent (NYSE: A) from Hold to Buy with a price target of $163.00 (from $145.00).

The analyst commented, "We are upgrading A to Buy from Hold. Responses from our biopharma survey suggest some good 2H acceleration in instrument demand, which - along with a few less-than-bullish data points on consumables side - has increased A's relative attractiveness. Company-specific data points on platform choice and portfolio improvement were also positive, and beyond pharma we see applied demand (PFAS & advanced materials testing) as differentiating growth contributors. Looking ahead, F2Q estimates look reasonable on the heels of 1Q stabilization, and the potential for late-year LSAG upside looks good. Agilent may have another quarter or two before the order book heats up, but as the company returns to growth (we are cautiously optimistic that this is the last quarter for organic declines) and the focus turns to the second half of the year, we think the stock - as the cheapest of the instrument names - becomes increasingly compelling as a 12-month idea."

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 $143.73 yesterday.

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