Barclays Maintains an 'Overweight' on Agilent (A); Solid Execution & Favorable End-Market Mix

Barclays maintains an 'Overweight' on Agilent (NYSE: A), price target lowered from $59 to $54.

Barclays analyst says, "Considering the negativity reflected in the stock, and fears of a Q4 debacle, we view this result very positively. We moderate 2012 estimates and price target given limited visibility, while noting that Agilent's outsized exposure to developing countries and applied markets gives the company a growth edge over peers. $1B in net cash provides 'dry powder' to drive upside via acquisitions. We are buyers at current levels." (Barclays raises FY11 EPS estimates from $2.91 to $2.92, lowers FY12 from $3.40 to $3.35)

For more ratings news on Agilent click here and for the rating history of Agilent click here.

Shares of Agilent closed at $37.50 yesterday.

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