UBS Raises price Target on PerkinElmer (PKI) to $61; Reiterates Buy
- Apple (AAPL) Tops Q4 EPS by 2c; Issues Solid Outlook
- Wall Street slips on earnings; Apple falls late after results
- Chipotle Mexican Grill (CMG) Posts Q3 EPS of $0.27; Comps Miss Views; Additional Stock Buyback Approved
- Pandora (P) Misses Q3 EPS by 1c, Q4 Revenue Guidance Falls Short
- After-Hours Movers 10/25: (OGXI) (AKAM) (VRTX) Higher; (EW) (NUVA) (CMG) (AAPL) Lower (more...)
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
UBS reiterated a Buy rating on PerkinElmer (NYSE: PKI), and raised the price target to $61.00 (from $56.00). Recent management commentary reaffirms continued confidence in PKI’s ability to achieve its 22% operating margin target by 2020.
Analyst Jonathan Groberg commented, "As we highlighted in our recent sector note, Life Science & Dx Tools stocks have maintained their rally in 2016 as absolute NTM P/E multiples continue to expand. Against this sector backdrop, we believe PKI offers an underappreciated favorable risk/reward as the stock continues to trade at a discount even as management continues to demonstrate it can deliver on long-term financial targets. We are increasing our price target to $61 reflecting higher peer multiples and continued conviction in our thesis."
Shares of PerkinElmer closed at $54.29 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UBS Cuts Price Target on V.F. Corp. (VFC) to $59; Reiterates Buy
- UBS Raises Price Target on Zions Bancorp (ZION) to $29 Following 3Q EPS Beat
- Needham & Company Raises Price Target on II-VI, Inc. (IIVI) Following 1Q Beat
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
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!