BofA/Merrill Derik de Bruin kept his Buy rating and his $78 price target on Agilent but designated the stock as his top pick for 2019 as part of his broader research note on Life Sciences & Diagnostic Tools. The analyst notes that while the Life Science Tool sector valuations remain at a premium relative to the S&P500 and most other healthcare sub-sectors, the gap has narrowed as organic growth slowed to just over 6%. de Bruin sees sector growth moderating further to 5% because of tough comps in 2019, but he is also positive on the industry's long-term positioning to "to reduce cyclical exposure and increase the level of recurring revenues." The analyst is especially positive on Agilent, where valuations have compressed from 28-times to 20-times earnings because of its "higher than average exposure to chemical and energy customers, concerns over China and trade, and cheaper opportunities elsewhere in the sector", but he sees the company's portfolio becoming much less cyclical today.