Agilent (NYSE:A) Driven by Multiple Catalysts Says Barclays

Including a solid foundation in EMG, Barclays (NYSE:BCS) said Agilent (NYSE:A) is being driven by multiple catalysts.

Barclays says, "We recently had an opportunity to spend some time with Agilent management. The message is very consistent - the company is on solid footing in EMG given an unusually high backlog, while driving upside in the Varian portfolio is a key theme for LSG/CAG. Far from done, we believe the story has multiple positive drivers, many underappreciated. We remain bullish on this high-quality cyclical name and raise PT to $49."

Barclays reiterates an "Overweight" rating on Agilent (A), which closed Wednesday at $42.43, losing $1.92, or 4.33 percent. Barclays raised their price target on Agilent from $44 to $49.