Auriga Maintains a 'Buy' on Life Technologies (LIFE); Overcoming Challenging Environment; 2012 Guidance Encouraging

Auriga maintains a 'Buy' on Life Technologies (NASDAQ: LIFE) price target of $63.00.

Auriga analyst said, "LIFE reported 4Q11 revenue of $970MM (+4%; 3% organic, 1% F/X) and non-GAAP EPS of $1 . 06 (+18% Y/Y) ahead of both our estimates and consensus. Revenue growth benefited from uptake of Ion Torrent (700 systems placed in 2011), Asia/Pacific growth (+10%) and solid demand in forensics, offset by lower spending within Academic/Government. The weak trends within Academic and Government will likely continue through 2012 as funding in the U.S. is set to increase 1%, and LIFE has a number of programs in place to both gain share and control costs in the uncertain environment. The outlook for 2012 (2% to 4% organic growth) looks achievable given LIFE's diverse end markets and geographic exposure. As such, we believe the current valuation (12x 2013 EPS) adequately prices these headwinds."

For an analyst ratings summary and ratings history on Life Technologies click here. For more ratings news on Life Technologies click here.

Shares of Life Technologies closed at $48.88 yesterday.

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