J.P. Morgan Upgrades Agilent Tech To OW; PT Goes From $40 To $46

Agilent Technologies, Inc. A is assuming lead analyst coverage of Agilent and upgrading it to Overweight (from Neutral). “We believe prospects of a reacceleration in global production trends likely drive shares of Agilent and the T&M group higher in 2011,” writes. “Despite the recent run in the stock, we believe there is further upside. Agilent's strong market position, a reinvigorated new product thrust and operating leverage improvements all contribute to upside potential.” As a result, we are raising our Dec-11 price target to $46 from $40. Agilent Technologies currently trades at $38.99.