** Brokerage Bernstein expects a "not so scary" Q3 earnings season for U.S. life sciences and tools firms, which "would be a real treat" for investors

** "With the recovery timeline for life science tools continuing to push out (further), some investors feel like they have been tricked one too many times," brokerage says

** Bernstein says medical instrument heavy firms Agilent

and Waters are better placed for Q3, with sales and demand in China showing signs of recovery

** Brokerage expects a "mixed" Q3 for Thermo Fisher , Revvity and Avantor

** Says AVTR could be hurt by customers working through existing inventory; expects Q3 beat for TMO, but modest raise to annual forecast

** YTD, Agilent shares up 4%, WAT and AVTR up 9%, TMO up 13% and RVTY up ~14%

** S&P 500 life sciences tools and sevices subindex

has risen 9% YTD

(Reporting by Bhanvi Satija in Bengaluru)

((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91 9873062788;))