Bruker initiated with a Buy at Guggenheim

Guggenheim analyst Subbu Nambi initiated coverage of Bruker (BRKR) with a Buy rating and $72 price target The “best-in-class,” largely proteomics-focused Life Sciences Tools company employs “unparalleled” scientific rigor in developing its proteomics tools, the analyst tells investors. Shares have been under notable pressure recently due to a combination of a slowdown in demand for capital equipment, the outlook for continued slow growth in China, and concerns about a myriad of M&A activity pursued over the last two years, notes the firm, which understands these concerns, but also believes they are “more than adequately captured in the current valuation.”