UPDATE: Brooks Automation Inc. (BRKS) PT Raised to $102 at Stifel on Model Roll
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Stifel analyst Patrick Ho raised the price target on Brooks Automation Inc. (NASDAQ: BRKS) to $102.00 (from $95.00) after introducing FY/CY22 estimates which reflect the same sum-of-parts EV/sales multiples off of new CY22 forecasts.
The analyst reiterated Buy rating, stating "Our estimates reflect another year of outperformance in its semiconductor business, while we are projecting solid revenue growth in life sciences but more importantly, continued margin expansion in this segment. We believe its semi business has been the key catalyst for the stock price appreciation to date in 2021, but with continued improvements in life sciences, additional appreciation driven by this segment could be forthcoming (given the higher multiples in life sciences as a whole."
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