PerkinElmer (PKI) PT Raised to $91 at Piper Jaffray
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Piper Jaffray raised its price target on PerkinElmer (NYSE: PKI) to $91.00 (from $81.00) while maintaining a Overweight rating.
Analyst William Quirk commented, "PerkinElmer delivered a good 4Q17 beat, with 13% revenue growth to $641.6M (+6% organic), ahead of the Street's $618.7M estimate (+4.8% organic). Normalized EPS of $0.97 was also above Consensus' $0.94 expectation. 2018 revenue guidance is $2.72B-$2.74B with $3.50 in EPS, both of which are above the Street's $2.64B and $3.45 estimates, respectively. We anticipate EUROIMMUNE can help accelerate Perkin's Diagnostics business and are raising our estimates and price target to $91 (was $81), based 23x FY19E EPS (was FY18E EPS)."
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