Stifel Downgrades Bio-Techne Corp. (TECH) to Hold

Stifel analyst Daniel Arias downgraded Bio-Techne Corp. (NASDAQ: TECH) from Buy to Hold with a price target of $65.00.

The analyst comments "We're moving to the sidelines on TECH. With 1H organic growth flattish and 2H expectations calling for something similar, it's hard to see the stock out-performing in the near to mid-term - particularly given the incremental pharma concerns that led to the miss today. We see valuation getting stuck in low 20s EV/EBITDA while the top-line languishes, and believe the company's fiscal calendar will make it difficult to confidently underwrite a 2025 return to double-digit growth (which we see as the key attribute for investors on TECH) given that end markets will likely still be fluid come mid-year. We remain positive on several areas of the portfolio and their overall potential, but these may take some time to create proper P&L differentiation. Our TP remains $65 while our rating moves to Hold from Buy."

For an analyst ratings summary and ratings history on Bio-Techne Corp. click here. For more ratings news on Bio-Techne Corp. click here.

Shares of Bio-Techne Corp. closed at $68.54 yesterday.

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