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Citi Research Increases Price Target, EPS Estimates for Agilent

NEW YORK (GenomeWeb News) – Citi Research analyst Amit Bhalla has increased his price target on Agilent Technologies' stock from $43 to $50 and has increased earnings-per-share estimates for the firm.

In a research note published last night Bhalla said that Citi has upped its FY 2013 EPS estimate for Agilent to $3.04 from $3.00 and FY 2014 EPS estimate to $3.40 from $3.29. He also said he believes Agilent will produce organic revenue growth of 4 percent to 5 percent for 2014 and 2015, rather than the 3 percent originally modeled by the bank.

"Combined with the potential for an improved macro environment in 2014 and 2015 … and strength in underlying trends including LC/MS upgrade cycle, diagnostics, and continued growth in smartphones/wireless communication, we believe Agilent remains well positioned and have increased our estimates to reflect this more positive view."

In Monday afternoon trade on the New York Stock Exchange, shares of Agilent were down a fraction of 1 percent at $43.22.

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