Citi reiterates Buy rating on Agilent stock as CFO announces departure

Investing.com - Citi has reiterated its Buy rating and $165.00 price target on Agilent (NYSE:A), a $33.5 billion market cap laboratory instrument company, following the announcement of CFO Bob McMahon’s upcoming departure. According to InvestingPro data, the company maintains a "GOOD" financial health score, supported by strong liquidity metrics.

Agilent announced Monday that McMahon will step down from his role for personal reasons, effective July 31. The laboratory instrument and software company has named Rodney Gonsalves, its corporate controller and principal accounting officer, as interim CFO until a permanent successor is appointed.

Despite the leadership change, Agilent reaffirmed its previously communicated fiscal third-quarter guidance, projecting revenue between $1.645-1.675 billion and earnings per share of $1.35-1.37.

Citi noted that while McMahon was "well respected by investors," the firm does not believe his departure changes the company’s outlook or its "typically prudent guidance philosophy."

The research firm maintained its positive stance on Agilent stock, keeping both its Buy recommendation and $165.00 price target unchanged following the announcement.

In other recent news, Agilent Technologies has announced that CFO Bob McMahon will step down on July 31, with Rodney Gonsalves stepping in as interim CFO. The company plans to release its third-quarter fiscal year 2025 financial results on August 27, expecting them to align with previous guidance. Agilent’s fiscal year 2024 revenue reached $6.51 billion. Analysts have shown confidence in Agilent, with TD Cowen raising the stock’s target price to $150 and maintaining a Buy rating, citing strong fiscal second-quarter results that exceeded revenue and earnings expectations. Stifel also reiterated a Buy rating with a $151 target, highlighting robust demand trends and a stable revenue outlook for 2025.

Meanwhile, TORM A/S has acquired the remaining 25% of ME Production, securing full ownership and enhancing its commitment to green maritime technologies. This acquisition is expected to bolster TORM’s innovation efforts and support its environmental strategy. Crawford & Company has appointed Amy Shore to its board of directors, bringing her extensive leadership experience in financial services to the role. These developments indicate strategic moves across the companies to strengthen their positions in their respective industries.

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