UPDATE: Brooks Automation Inc. (BRKS) PT Raised to $95 as Stifel Sees Upside in Life Sciences

(Updated - February 3, 2021 9:14 AM EST)

Stifel analyst Patrick Ho raised the price target on Brooks Automation Inc. (NASDAQ: BRKS) to $95.00 (from $86.00) after the company reported 1Q21 (Dec) earnings results above expectations and a bullish outlook for the March quarter led by its semiconductor business. While this was not surprising, the strong outlook in its life sciences business was.

The analyst stated "We believe demand trends that have been building over the past several quarters are now exhibiting themselves in not only March but in 2021 as a whole. With an improved operating model, this business is also driving higher earnings leverage for the total company. In total, we believe Brooks is now set up for strong tailwinds in both of its businesses for 2021. We are forecasting a record year for the company as we raise our estimates once again. We also increase our target price to $95 (from $86), reflecting the same sum-of-parts multiples off higher revenues. We maintain our Buy rating on the shares".

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