UPDATE: BTIG Research Initiates Coverage On Agilent Technologies Following Keysight Separation

In a report published Friday, BTIG Research analyst Dane Leone initiated coverage on Agilent Technologies A with a Neutral rating. In the report, BTIG Research noted, “The separation of Keysight from New Agilent will allow New Agilent to focus efforts on gaining market share in existing analytical markets while more aggressively pursuing expansion into genetic analysis markets. We rate Agilent a Neutral with an expected near term trading range of US$50–60 per share. We like the company but think current expectations and valuation appropriately reflect the near term opportunity, while long term strategy will need to be communicated by the new CEO.” Agilent Technologies closed on Thursday at $55.83.