Analysts at Bernstein have raised Agilent Technologies' stock price target to $180 from $155, maintaining an Outperform rating as the company reported third-quarter fiscal 2026 results that exceeded expectations.
The upgrade follows similar increases from TD Cowen and RBC Capital, both of which now set their targets at $180 and $185 respectively. Agilent's shares were trading at $158.06 at the time of the announcement, near a 52-week high of $160.51 and reflecting a price-to-earnings ratio of 31.68.
The company reported adjusted earnings per share of $1.62, an 8.8% beat against the consensus estimate of $1.49. Revenue reached $1.88 billion, while core organic growth came in at 7.3%, surpassing guidance of 4.4% to 5.9% and the consensus forecast of 5.4%. Gross and operating margins also came in above expectations at 56.4% and 28.3% respectively.
Bernstein adjusted its valuation multiples, lifting the 2027 price-to-earnings multiple to 26x from 23x and the enterprise value-to-EBITDA multiple to 22x from 19x. The stock has gained approximately 35% over the past three months and 28% over six months, driven by faster-than-anticipated recovery in China, reshoring momentum and strength in pharmaceuticals, particularly in LC-MS and Advanced Therapeutics.
Agilent also raised its full-year outlook for revenue, profit and margins, reinforcing confidence in sustained demand across its core markets.
