Bio-Rad price target lowered to $447 from $477 at RBC Capital

RBC Capital lowered the firm’s price target on Bio-Rad (BIO) to $447 from $477 and keeps an Outperform rating on the shares. The company reported a slight miss for Q4, with guidance coming in below consensus estimates on the top and bottom line, though based on peers’ results thus far, the low-single-digit top-line guide is not a major surprise, the analyst tells investors in a research note. RBC adds however that the lack of meaningful margin expansion by Bio-Rad was still surprising.