Agilent Earnings: Maintaining Our $151 Fair Value Estimate After Results Exceed Expectations

Wide-moat Agilent Technologies delivered fiscal first-quarter results that were better than management's targets. However, it merely maintained its outlook for fiscal 2024. Our view for 2024 remains slightly more optimistic on the top line and at the high end of the bottom line compared with management's target ranges. At first glance, we do not anticipate changing our $151 fair value estimate. The shares appear to be rising closer to our fair value estimate in after-hours trading on these strong quarterly results.