UPDATE: Jefferies Color on Agilent Technologies Target Increase

Jefferies, which raised its PT on shares of Agilent Technologies (NYSE: A), is providing some color on the stock.

“Despite the magnitude of A's FY11 EPS guidance raise (+ $0.28/+11% at the mid-pt), we continue to perceive material upside potential based on the commitments embedded in its operating model, as well as prospects for stepped up capital re-deployment activities in the coming periods,” Jefferies writes.

Agilent Technologies closed Friday at $52.58.