Jefferies Reiterates Buy on Bio-Rad Labs (BIO) After Reviewing Job Listings
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Jefferies reiterated a Buy rating and $225.00 price target on Bio-Rad Labs (NYSE: BIO) after reviewing the company's job listings. It appears the company may have finished hiring a handful of "lean six sigma black belt process specialists" at its headquarters in Hercules, CA. Also, a new job listing posted yesterday indicates BIO is looking to add a new regulatory affairs manager who will specifically be responsible for "developing, submitting & obtaining FDA clearance for DNA sequencing & ddPCR (droplet digital PCR) IVD devices".
Analyst Brandon Couillard commented, "Our review of BIO's online job listings revealed two key incremental data points: 1) it appears to have finished hiring several new lean six sigma process experts at its Hercules, CA headquarters; and, 2) a new listing (FDA affairs manager role) suggests BIO's targeted DNA sequencing pipeline program may have reached a key development milestone & taken a step closer to commercialization. BIO remains our top pick."
Shares of Bio-Rad Labs closed at $173.50 yesterday.
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