Goldman Sachs Upgrades Agilent (A) to Buy, Sees 37% Upside

Goldman Sachs upgraded Agilent (NYSE: A) from Neutral to Buy with a price target of $49.00 (from $42.00), suggesting 37% upside.

The firm said after underperforming the S&P 500 by 560bp YTD, they see an attractive risk/reward profile, strong ROIC, and attractive valuation coupled with the following catalysts: "(1) trends in EM are improving and Agilent has group-leading exposure, (2) accelerating wireless capex should benefit the Electronic Measurement Group's (EMG) business, (3) Agilent should continue to gain share and improve margins in Life Sciences Group (LSG) , and (4) lower expectations now create a hospitable environment for multiple expansion."

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 $35.81 yesterday.

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