Market Overview

UPDATE: Stifel Downgrades Agilent Technologies on Valuation, Limited Upside

Related A
Why You Shouldn't Bet Against A. Schulman (SHLM) Stock - Tale of the Tape
Company News for April 09, 2014 - Corporate Summary

In a report published Tuesday, Stifel analyst Patrick Newton downgraded the rating on Agilent Technologies (NYSE: A) from Buy to Hold, and removed the $52.00 price target.

In the report, Stifel noted, “We are downgrading shares of Agilent from Buy to Hold due to valuation. Additionally, we see limited upside potential to shares from current levels given lack of a near-term catalysts post Agilent's announced split into two focused market leaders consisting of the ‘New Agilent' (inclusive of LDA assets) and a ‘New Electronic Measurement' company (consisting of EMG assets). Our research indicates the prospect of a spin-off has supported Agilent's stock price over the last few quarters, pushing shares toward our $52 target, even as fundamentals struggled given slow growth in the U.S. and global economy. Accordingly, we view the reward to risk profile on shares to be neutral, and are reducing our rating from Buy to Hold.”

Agilent Technologies closed on Monday at $51.25.

Posted-In: Patrick Newton StifelAnalyst Color Downgrades Analyst Ratings


Most Popular

Related Articles (A)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free