Puneet Souda, an analyst from Leerink Partners, maintained the Buy rating on Revvity (RVTY – Research Report). The associated price target was raised to $140.00.
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Puneet Souda’s rating is based on Revvity’s strong position in its core recurring revenue businesses, which constitute more than 80% of its sales. These areas have shown positive growth signals, with improvements in reagents and ImmunoDx segments, including growth in China. The management’s assumption of stable market conditions through 2025, along with the potential for conservative guidance, suggests that the company’s indicators are moving in a favorable direction.
Puneet Souda highlights Revvity’s attractive recurring revenue profile, which supports top-quartile margins and positions the company to benefit from leverage when market volumes recover. The company’s guidance for 2025 indicates an organic growth rate of 3-5%, slightly surpassing peers such as TMO and DHR. Additionally, the stabilization of demand in core pharma sectors and the expected growth in Life Sciences and Diagnostics segments further justify the Buy rating, supported by an increased price target of $140.
According to TipRanks, Souda is an analyst with an average return of -9.6% and a 35.50% success rate. Souda covers the Healthcare sector, focusing on stocks such as Natera, Bruker, and Hologic.
In another report released yesterday, KeyBanc also maintained a Buy rating on the stock with a $145.00 price target.