Wells Fargo Starts Sigma-Aldrich (SIAL) at Market Perform; Premium Multiple, But Less Favorable Product Mix

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Wells Fargo initiates coverage on Sigma-Aldrich (NASDAQ: SIAL) with a Market Perform. PT range $75-80.

Analyst, Tim Evans, said, "Sigma-Aldrich has produced remarkably consistent earnings and dividend growth for over 35 years. However, with about half the company's revenue coming from routine products and with lower exposure to emerging markets than peers, we think future growth could be slower than the past. Additionally, the company has earned and maintained a premium valuation multiple, which contributes to our neutral view. We set our 2012/2013 EPS estimates at $4.00/$4.38, respectively."

For an analyst ratings summary and ratings history on Sigma-Aldrich click here. For more ratings news on Sigma-Aldrich click here.

Shares of Sigma-Aldrich closed at $69.79 yesterday, with a 52 week range of $56.18-$76.16.

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