Goldman Sachs Adds PerkinElmer (PKI) to Conviction Buy List

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Goldman Sachs added PerkinElmer (NYSE: PKI) to its Conviction Buy List with a price target of $34, suggesting 33% upside.

The firm said 2012 guidance looks conservative despite macro fears and NIH funding uncertainty given. They cited three factors: (1) above peer OM margin expansion potential over the next three years, (2) conservative assumptions for EU baked into guidance, and (3) minimal NIH funding exposure.

Goldman said recent capital deployment will provide a tailwind to growth and they are positive on cost synergy and growth opportunities as PKI fully integrates these assets.

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 $25.66 yesterday, with a 52 week range of $17.45-$28.24.

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