Agilent downgraded to Equal Weight from Overweight at Barclays (earlier)

As previously reported, Barclays downgraded Agilent to Equal Weight from Overweight with a price target of $115, down from $130. he company just finished its upgrade cycle into the liquid chromatography market, and management has talked degrees about a 12-18 months trough duration, the analyst tells investors in a research note. As such, the firm thinks Agilent should underperform on instrument growth versus the rest of the group over this downcycle. Additionally, Agilent has higher exposure to China, which is at greater risk of deeper cyclicality, says Barclays.