UPDATE: Credit Suisse Initiates Agilent Technologies at Outperform; Compelling Valuation on Pullback

Credit Suisse initiated coverage on Agilent Technologies

with an Outperform rating and a $48.00 price target. Credit Suisse commented, "Agilent is the most diversified name in our coverage universe, with 48% of sales coming from the Electronic Measurements Group (EMG). Weakness in EMG drove the company's recent quarterly miss and guidance reduction but the resulting selloff provides a more attractive entry point for long-term investors. … Proprietary survey suggests continued traction in life sciences and chemical analysis." Agilent Technologies closed at $42.03 on Monday.