Auriga Maintains a 'Buy' on Life Technologies (LIFE); Q1 Neatly Beats

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

Analyst, Peter McDonald, said, "Yesterday, Life Technologies reported 1Q12 revenue of $939MM (+5%; 2% organic, 3% F/X) and non-GAAP EPS of $0.99 (+17% Y/Y, $0.03 F/X benefit) ahead of both our estimates and consensus. Revenue growth was driven by uptake of Ion Torrent, Asia/Pacific growth (+8%) and Japan (+7%) which helped offset lower spending in Academic/Government and stimulus headwinds. The weak trends within Academic and Government will likely continue through 2012. However LIFE's portfolio is well positioned and expectations remain modest. Management reiterated prior guidance (2% to 4% organic growth) and the outlook appears achievable given LIFE's diverse end markets and geographic exposure. We believe the current valuation (12x 2013 EPS) adequately prices these headwinds and are maintaining our rating."

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 $46.29 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Ethos Signs Erin Andrews as Its Next Sports Partner in Growing Campaign to Make Life Insurance Accessible for Every Family
• Powell Industries (POWL) PT Lowered to $235 at Cantor Fitzgerald
• UBS Reiterates Buy Rating on Hilton Worldwide (HLT)