Leerink Partners Resumes Bio-Techne Corp. (TECH) at Outperform

November 10, 2016 6:42 AM EST
Get Alerts TECH Hot Sheet
Price: $101.39 --0%

Rating Summary:
    5 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 29 | Down: 29 | New: 6
Trade TECH Now!
Join SI Premium – FREE

Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.

Leerink Partners resumes coverage on Bio-Techne Corp. (NASDAQ: TECH) with an Outperform rating and a price target of $122.00.

Analyst Puneet Souda commented, "We view Bio-Techne (TECH) as: (1) a nimble research tools engine with a favorable consumables profile (90% of sales) that continues to deliver well beyond its mid-single-digit organic growth targets, and we believe it can potentially deliver a 9% CAGR between FY2016-2019E; (2) a company with an established track record of successfully executing on inorganic growth via strategic acquisitions, and one poised to grow further in a highly fragmented research tools industry as it acquires more assets; and (3) uniquely positioned to benefit from the expected NIH budget appropriation for FY2017, given that the majority of what it sells are higher value kits and consumables that are generally desired irrespective of the strength in funding environment."

For an analyst ratings summary and ratings history on Bio-Techne Corp. click here. For more ratings news on Bio-Techne Corp. click here.

Shares of Bio-Techne Corp. closed at $103.82 yesterday.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, New Coverage

Add Your Comment