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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: t2 who wrote (15014)	5/17/2005 12:52:48 PM
From: niek	Read Replies (1) \| Respond to of 25522

Agilent Shares Have As Much As 20% Upside Potential 05.17.05, 9:50 AM ET Goldman Sachs reiterated an "outperform" rating on Agilent Technologies (nyse: A - news - people ), saying the company is "still a work in progress, but cash flow and stock upside [drive] our positive rating." The research firm values Agilent shares at a fair value of about $25 to $26, or up to 20% upside. Agilent reported an in-line second quarter but set third-quarter guidance below expectations. The technology company issued third-quarter earnings-per-share guidance of 23 cents to 28 cents, versus consensus of 31 cents. As a result, Goldman lowered its third-quarter estimate to 27 cents from 35 cents, and the 2005 estimate to $1.04 from $1.15. Goldman said it was surprised that Agilent didn't announce a share buyback program or a convertible repurchase to deploy its net cash, which is currently valued at $2.89 per share. The next positive catalyst for the stock could be a combination share repurchase and convertible bond buyback announcement, according to Goldman. The research firm said Agilent may execute more divestitures of non-core business lines, such as the recent camera module sale to Flextronics International (nasdaq: FLEX - news - people ). For the second quarter, Agilent reported earnings of 20 cents per share, versus consensus of 21 cents. Forbes.com