Leerink Partners Resumes Bruker (BRKR) at Market Perform
- Netflix, Inc. (NFLX) Tops Q4 EPS by 1c; Subs Beat Views
- S&P 500 ends up slightly with boost from financials; Netflix up late
- Nestle Said Examining Takeover of Mead Johnson (MJN) - Source
- La Quinta Holdings (LQ) Gains on Plan to Split in Two
- After-Hours Stock Movers 01/18: (OCLR) (CSX) (NFLX) Higher; (AMDA) (RCII) (ZYNE) Lower (more...)
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Leerink Partners resumes coverage on Bruker (NASDAQ: BRKR) with a Market Perform rating and a price target of $21.00.
Analyst Puneet Souda commented, "We are resuming coverage of Bruker Corp. (BRKR) with a Market Perform rating and $21 price target. Bruker is facing a number of challenging headwinds which have intensified during the course of the year, including: (1) still weakening industrial end-markets with expectations of reaching trough point in 2017 and potential recovery in 2018 and beyond; (2) continued delays in European academic funding environment with Europe accounting for 42% of BRKR’s sales; (3) challenges in generating further operating leverage after the 300 bps improvement gained in 2015 and 160 bps so far this year via the 3-year long transformation at BRKR, and (4) limited (only 10%) exposure to biopharma R&D, at a time when biopharma growth continues to deliver double digit growth among life science tools peers. Given that backdrop, we believe it will take another full year for BRKR to reach market growth rates, limiting any upside to the stock in the near-term. As a result we are more inclined to stay on the sidelines for now."
Shares of Bruker closed at $22.25 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Deutsche Bank Starts Bruker (BRKR) at Hold
- Deutsche Bank Raises Price Target on IHS Markit (INFO) to $44; Reiterates Buy
- UBS Cuts Price Target on Morgan Stanley (MS) to $49; Reiterates Buy
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!