NEW YORK, February 17 (FinanceEnquiry.com) – Analyst Jeffrey Loo of S&P Capital IQ reiterates his BUY rating on the shares of Agilent Technologies (NYSE: A), while raising his estimates for the company. The target price has been raised from $48 to $50.
In a research note published this morning, the analyst mentions that the company has reported January quarter adjusted EPS of $0.69, vs. $0.60, $0.01 above the estimate. Agilent Technologies’ sales, however, were flat, well below the 7% estimate due to soft sales at Electronic Measurement division, with orders down 5%. Sales at the company’s Chemical Analysis and Life Science were robust with both rose 14%. The analyst believes that Agilent Technologies would witness soft sales in April quarter with flat sales in Electronic Measurement. The company has narrowed its FY12 sales guidance to $6.92B-$7.02B from $6.85B-$7.15B and EPS to $3.13-$3.23 from $3.00-$3.35. The EPS estimate for FY12 has been raised from $3.06 to $3.16.
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