Bio-Rad Labs (BIO): Raising PT On Multi Year Opportunity - Jefferies
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Jefferies analyst, Brandon Couillard, reiterated his Buy rating on shares of Bio-Rad Labs (NYSE: BIO) as trough valuation on trough earnings leads the analyst to believe that BIO is the most under-appreciated asset in his universe.
The analyst believes that after the migration to a single global ERP is complete, BIO will be on the cusp of a profit margin & ROIC inflection point to a base case of >$10 of EPS power in 2020. Expectations are low & the path to structurally higher FCF/ROIC seems increasingly plausible.
The price target goes to $225 from $200.
Shares of Bio-Rad Labs closed at $151.66 yesterday.
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