Leerink Partners Raises Price Target on Agilent Technologies (A) to $51 Following 2Q
Leerink Partners reiterated an Outperform rating on Agilent Technologies (NYSE: A), and raised the price target to $51.00 (from $44.00), following the company's 2Q earnings report. Agilent reported revenue of $1.02B, a solid +4% beat against consensus of $983M. EPS was reported at $0.44, above the Street's $0.39 by +13%.
Analyst Dan Leonard commented, "Our Outperform rating on Agilent reflects a view that the company has the most top-line independent margin expansion opportunity in large-cap life science tools. We think the solid F2Q results, in which adj. operating margins increased 110 bps y/y, are supportive of our thesis. We are increasing our estimates and raising our price target from $44 to $51."
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Shares of Agilent closed at $42.94 yesterday.