Agilent Technologies (A) Reports 4Q EPS Beat; Leerink Partners Reiterates Outperform
Leerink Partners reiterated an Outperform rating on Agilent (NYSE: A), and cut the price target to $44.00 (from $47.00), following the company's 4Q earnings report. Fiscal Q4 revenue of $1.04B was essentially in-line with consensus. Adjusted EPS of $0.50 beat consensus estimate of $0.47 on better-than-expected operating margins.
Analyst Dan Leonard commented, "We are lowering our top- and bottom-line estimates to reflect a more conservative macro backdrop for 2016. Our new, lower price target of $44 (from $47) reflects our lower revenue and EPS outlook. We are maintaining our Outperform rating."
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Shares of Agilent closed at $37.33 yesterday.