Deutsche Bank analyst Justin Bowers downgraded Bio-Techne Corp. (NASDAQ: TECH) from Buy to Hold with a price target of $73.00.

The analyst comments: “We are changing our rating on TECH to Hold (from Buy) following Merck KGaA 's (DB; Hold) proposed acquisition at $73 / share, a +36% premium to Bio-Techne’s 1 month volume weighted average trading price prior to the 6/25 announcement. The takeout price values Bio-Techne at an EV of $11.3b or a 23x multiple to Bloomberg consensus CY 2027 EBITDA (as of 6/24). We are increasing our PT to $73 (from $66), in line with the deal price.”

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 $70.70 yesterday.