Analyst David Saxon of Needham reiterated a Buy rating on Azenta (AZTA – Research Report), boosting the price target to $59.00.
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David Saxon has given his Buy rating due to a combination of factors that highlight Azenta’s positive financial performance and growth potential. The company exceeded expectations in its first quarter of fiscal year 2025, with both revenue and earnings per share surpassing consensus estimates, while adjusted EBITDA met market predictions. Notably, the company would have demonstrated an even stronger adjusted EBITDA if not for one-time items, suggesting that its margin guidance might be conservative.
The growth in Azenta’s SMS segment, driven by C&I and SRS, and the expansion of its Multiomics segment, led by NGS and gene synthesis, underscore the company’s robust operational performance. Furthermore, the potential for upward adjustments in guidance and the upcoming Investor Day are expected to shed more light on Azenta’s long-term growth and profitability prospects. Consequently, Saxon maintains a Buy rating and has raised the price target to $59, reflecting the forward-looking valuation for CY26.
Saxon covers the Healthcare sector, focusing on stocks such as SI-Bone, Alcon, and RxSight. According to TipRanks, Saxon has an average return of 2.2% and a 39.19% success rate on recommended stocks.