Deutsche Bank Downgrades PerkinElmer (PKI) to Hold; Exposure to Highly Cyclical End Markets and China Poses N-T Risks

Deutsche Bank downgraded PerkinElmer (NYSE: PKI) from Buy to Hold, lowers PT to $21.

Deutsche analyst said, "We contend that outsized exposure to cyclical end markets (industrial, environmental, imaging) poses potential risks to MT earnings, with our updated forecast meaningfully below consensus for FY12. Furthermore, limited flexibility in deploying capital (post-CALP purchase), and near term challenges in expanding operating margins further caps earnings growth."

"We see meaningful downside risk to the FY12 consensus estimate of $1.90, and have thus lowered our FY12 EPS estimate from $1.80 to $1.75 to reflect these concerns."

For more ratings news on PerkinElmer click here and for the rating history of PerkinElmer click here.

Shares of PerkinElmer closed at $19.37 yesterday.

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