Needham & Company Starts Bruker (BRKR) at Strong Buy

Needham & Company analyst Stephen Unger initiates coverage on Bruker (NASDAQ: BRKR) with a Strong Buy rating and a price target of $39.00.

The analyst comments "We believe Bruker Corp. has significant potential for ongoing EPS upside through an increased focus on overall profit improvement. At the beginning of 2018, the company implemented a profit improvement plan ("Project Accelerate") intended to drive 4% annual organic growth and 75-100 bps of annual operating margin expansion. We believe Project Accelerate is capable of driving annual EPS growth in excess of 10%. Our $39.00 12-month price target is based on BRKR shares trading at 22.5x our 2020 EPS estimate of $1.72 (PEG ratio of 2.25 on projected 2021 EPS growth of 10%). Our STRONG BUY rating reflects our expectation of an investment return exceeding the average total return of the broader market over the next 12 months and the average of our coverage universe."

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

Shares of Bruker closed at $29.77 yesterday.

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