Mizuho Securities Downgrades PerkinElmer (PKI) to Neutral
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Mizuho Securities downgraded PerkinElmer (NYSE: PKI) from Outperform to Neutral with a price target of $56.00 on valuatoin as price target hit.
Analyst Eric Criscuolo commented, "After a nice run since February and valuation approaching peak levels, we downgrade to Neutral. We see nothing wrong with the business and expect continued solid execution, but we can't justify an increase in EPS or multiple needed to get our PT 10% above current levels. We'll await a better re-entry point or clearer path to higher EPS estimates and margins before becoming more constructive again."
Shares of PerkinElmer closed at $55.72 yesterday.
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