Lehman Cuts Agilent Estimates

Analyst Edward White notes the chip equipment maker's lowered guidance but says he still sees long-term growth

Lehman Brothers cut estimates on Agilent (A ).

Analyst Edward White says Q3 results exceeded estimates but says Q4 guidance was cut sharply. He says strong product trends, operating cost cuts and the bottoming out of business in certain segments continues to support his long-term positive thesis on Agilent's shares, though fundamental weakness over the next few quarters will likely limit near-term share price appreciation. He cut the $0.02 fiscal 2001 (Oct.) earnings-before-goodwill (EBG) estimate to a $0.10 loss, and cut the $0.50 fiscal 2002 EBG estimate to a $0.95 loss.

White rates Agilent as buy; and sees EBG growth over the long term.

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