2024-06-27 08:24:25 ET
Summary
- Agilent's may be an underappreciated winner with Alnylam's recent clinical success, as manufacturing Amvuttra could generate more than $500M in revenue in the coming 5-7 years that isn't in models.
- Sharp cutbacks in capex spending across academic labs, biopharma, chemical, food/beverage, and material science companies has hit Agilent's revenue hard this year, but the capex cycle will recover.
- Despite current challenges, Agilent's long-term leverage to growth in areas like advanced materials, biopharma, and genomics makes it worth consideration.
- Life sciences tools companies almost never get conventionally cheap without a disaster, but there's still a GARP argument for Agilent shares toward $150.
If you follow enough stocks long enough, your brain starts to resemble a “crazy wall” (or, more nicely, an “investigation board”; imagine the TV trope of pictures, notes, and so on connected by strings), but sometimes that be helpful....
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Agilent Hit By Cyclical Headwinds, But The Growth Story Remains Intact Long Term