UPDATE: Jefferies Color on Agilent Technologies Target Increase

Jefferies, which

on shares of Agilent Technologies

, is providing some color on the stock. “Despite the magnitude of A's FY11 EPS guidance raise (+ $0.28/+11% at the mid-pt), we continue to perceive material upside potential based on the commitments embedded in its operating model, as well as prospects for stepped up capital re-deployment activities in the coming periods,” Jefferies writes. Agilent Technologies closed Friday at $52.58.