PerkinElmer (PKI) PT Raised to $56 at Mizuho

Mizuho Securities analyst Eric Criscuolo reiterated a Buy rating and bumped his price target on PerkinElmer (NYSE: PKI) to $56.00 (from $52.00) following Q1 top and bottom line beat and raised guidance.

Criscuolo commented, "PKI beat consensus estimates and raised guidance. Op margins significantly outperformed but we anticipate expansion to moderate. Growth drivers remain familiar: China, biopharma; and we expect that to continue. End markets continue along trend lines and we think the margin expansion story remains in place. We're increasing our PT to $56 and reiterate our Buy, but position PKI behind TMO and VWR among our tools coverage."

For an analyst ratings summary and ratings history on PerkinElmer click here. For more ratings news on PerkinElmer click here.

Shares of PerkinElmer closed at $50.76 yesterday.

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