Leerink Swann Downgrades Sigma-Aldrich (SIAL) to Market Perform; Europe A Sore Spot For 2012, SIAL Overexposed
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Price: $139.76 --0%
Rating Summary:
1 Buy, 12 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 12 | New: 20
Rating Summary:
1 Buy, 12 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 12 | New: 20
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Leerink Swann downgraded Sigma-Aldrich (NASDAQ: SIAL) from Outperform to Market Perform, price target range $66-$70 (from $74-78.
Leerink analyst says, "We are downgrading SIAL's stock with a view that upside to Street forecasts for SIAL going forward could be difficult to achieve, and absent upside, a multiple in line with its peer group is more appropriate than a premium multiple."
"From a portfolio management standpoint, we also wished to lighten up on our exposure to Europe. SIAL derives ~37% of its revenues from Europe, which, when combined with our Outperform ratings on Bruker (Nasdaq: BRKR), Qiagen (Nasdaq: QGEN), PerkinElmer (NYSE: PKI), and Waters (NYSE: WAT), left us more exposed to deteriorating economic conditions in this region than we'd like to be."
Leerink cuts FY12 EPS estimate from $4.04 to $3.98 and FY13 from $4.33 to $4.27.
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 $63.12 yesterday.
Leerink analyst says, "We are downgrading SIAL's stock with a view that upside to Street forecasts for SIAL going forward could be difficult to achieve, and absent upside, a multiple in line with its peer group is more appropriate than a premium multiple."
"From a portfolio management standpoint, we also wished to lighten up on our exposure to Europe. SIAL derives ~37% of its revenues from Europe, which, when combined with our Outperform ratings on Bruker (Nasdaq: BRKR), Qiagen (Nasdaq: QGEN), PerkinElmer (NYSE: PKI), and Waters (NYSE: WAT), left us more exposed to deteriorating economic conditions in this region than we'd like to be."
Leerink cuts FY12 EPS estimate from $4.04 to $3.98 and FY13 from $4.33 to $4.27.
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 $63.12 yesterday.
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