Leerink Swann Upgrades Bruker (BRKR) to Outperform; Relative Sell-Off Overdone
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Price: $16.94 -2.42%
Rating Summary:
12 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
12 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade BRKR Now!
Leerink Swann upgraded Bruker (NASDAQ: BRKR) from Market Perform to Outperform, price target range of $16.50-$17.50 from $21-23.
Leerink analyst says, "We have upgraded BRKR to Outperform following its recent dramatic underperformance vs. its peers. While we have reduced our 2011e EPS to $0.87 (vs. Street's $0.89), we believe the risk of missing Street numbers is more than discounted in the current stock price, and that the sell-off is overdone...Primary investor concerns in an environment of tightening government spending are BRKR's outsized exposures to academic/government markets, instrument sales, and Europe. These concerns are valid but we believe over-reflected in current stock price." (Leerink lowers FY11 EPS estimate from $0.91 to $0.87 and FY12 from $1.0 to $1.06)
For more ratings news on Bruker click here and for the rating history of Bruker click here.
Shares of Bruker closed at $13.42 yesterday, with a 52 week range of $11.82-$21.65.
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Leerink analyst says, "We have upgraded BRKR to Outperform following its recent dramatic underperformance vs. its peers. While we have reduced our 2011e EPS to $0.87 (vs. Street's $0.89), we believe the risk of missing Street numbers is more than discounted in the current stock price, and that the sell-off is overdone...Primary investor concerns in an environment of tightening government spending are BRKR's outsized exposures to academic/government markets, instrument sales, and Europe. These concerns are valid but we believe over-reflected in current stock price." (Leerink lowers FY11 EPS estimate from $0.91 to $0.87 and FY12 from $1.0 to $1.06)
For more ratings news on Bruker click here and for the rating history of Bruker click here.
Shares of Bruker closed at $13.42 yesterday, with a 52 week range of $11.82-$21.65.
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