Morgan Stanley Lowers Agilent Rating

Analyst Steven Pelayo sees Agilent as a blue-chip, but expects bad news on capital spending cuts and earnings revisions in the near term

Morgan Stanley downgrades Agilent Technologies (A ) to outperform from strong buy. Analyst Steven Pelayo downgrades Agilent on the belief that bad news flow on capital spending cuts and downward earnings revisions to consensus are likely in the near term. However, he thinks it remains a blue-chip technology conglomerate with a solid restructuring story, attractive valuation.

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