Agilent Technologies (A) is benefiting from broad-based product cycle momentum and resilient end-market exposure across pharmaceuticals, diagnostics and industrial segments, RBC Capital said in a Wednesday note.
The analysts said the company's fiscal Q2 results reflected strong execution, with revenue and segment performance coming in ahead of expectations, driven by strength in key instrument platforms and non-healthcare markets such as advanced materials and semiconductors.
Management raised 2026 guidance and analysts lifted 2026 to 2027 estimates, citing product cycle momentum and reshoring capex, with semiconductor-related sales at 3% to 4% of revenue growing mid-teens and strength in advanced materials markets, according to the report.
RBC highlighted strength in the company's Applied Markets and Life Sciences & Diagnostics segments, driven by pharma and biotech demand, with weakness in academic and government offset by gains in semiconductors, advanced materials and reshoring-related investment.
The brokerage firm noted that multiple product cycles, including new platform launches, are driving a synchronized upcycle at Agilent Technologies, with sustained high-single-digit growth increasingly achievable despite tougher comparisons ahead.
RBC maintained its outperform rating on the stock and raised its price target to $155 from $153.
Shares of Agilent Technologies were up more than 16% in Thursday trading.
Price: $135.14, Change: $+19.30, Percent Change: +16.66%