Deutsche Bank analyst Ross Murken this morning launched coverage of Agilent (A) with a Buy rating and $41.50 price target.
“Agilent is the premier global measurement company, having transformed itself over the last ten years from a highly cyclical test/measurement provider to a technology leader across life sciences, chemical analysis, communications and electronics,” he writes in a research note. “A offers attractive exposure to high-growth end markets, is supremely positioned in China/Asia-Pac (~37% of revs) and presents a disciplined approach to [return on invested capital]. Given the appeal of A’s new business mix, margin/returns profile and valuation we initiate our Buy rating,”
A is up 37 cents, or 1.1%, to $33.04.
Disclosure: My wife is a former Agilent employee; we own a position in the company�s shares.