Deutsche Bank is out with a research report this afternoon, where it initiates a Buy rating on Agilent Technologies A; it has a $41.50 price target on the stock.
The analysts said that, given the appeal of A's new business mix, margin and return profile, as well as valuation they believe the stock is a buy right here. They added that Agilent has made a conscious effort to reposition the business over the last few years, resulting in a balanced revenue mix across electronic measurement and life science/chemical analysis.
As for valuation, they remarked, “Our $41.50 price target is based on two methodologies, DCF & peer comparables, but equates to a PE of 16x our FY11 EPS estimate of $2.55 and 14x our FY12 EPS estimate of $2.90, with $41.50 representing the midpoint of our DCF range. On a calendarized basis, our PT equates to PE of 16x our $2.61 CY11E and 14x our $2.95 CY12E.”
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Posted In: Analyst ColorPrice TargetInitiationAnalyst RatingsDeutsche BankElectronic Equipment ManufacturersInformation Technology
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