NEW YORK (TheStreet) -- Shares of Agilent Technologies Inc. (A) closed down 1.62% to $40.18 after the company was downgraded to "market perform" from "outperform" at Wells Fargo, and to "neutral" from "outperform" at Robert W. Baird & Co.
Well Fargo said it lowered the measurement company's rating because the company is facing currency headwinds following the spin-off of Keysight Technologies Inc. (KEYS) .
The firm reduced and reset its valuation range for Agilent Technologies to $41-$43 for a standalone from $57-59 previously for the combined company.
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"We believe Agilent's outlook for FY 2015 is well understood, leaving little room for upside surprise to earnings," said Wells Fargo analyst Tim Evans.
Baird cut the price target for Agilent Technologies to $42 from $59 and said its decision was a valuation call following the spin-off of Keysight.
Separately, TheStreet Ratings team rates AGILENT TECHNOLOGIES INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate AGILENT TECHNOLOGIES INC (A) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, increase in stock price during the past year and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."