Bio-Techne Corp. (TECH) PT Raised to $560 at Stifel
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Stifel analyst Daniel Arias raised the price target on Bio-Techne Corp. (NASDAQ: TECH) to $560.00 (from $475.00) while maintaining a Buy rating.
The analyst commented, "Bio-Techne posted another strong quarter on the heels of the lab spending rebound and demand for a portfolio that continues to be well-positioned in multiple key areas, which has organic growth finishing at 22%. This is notable in that it is well above peers, but even more so when considering that the company is without a major covid testing/vaccine tailwind. Going forward, mgmt seems intent on remaining mostly guidance-free, which leaves the door open to a fairly wide range of potential organic growth outcomes. We have taken our '22 estimate to 16% from 18% (Street 15%) on prudence to start the new fiscal year - but we believe we'll be back at the 17-18% level by the end of the year. We continue to believe TECH is built and set up to deliver multiple years of mid/high-teens growth."
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