Bernstein initiated coverage of Revvity with an Outperform rating and $133 price target. The analyst says the U.S. life science tools and diagnostics has the same positives as other healthcare sub-sectors, like enduring growth drivers, customers with locked-in processes, increasingly higher-margin / higher recurring revenue, and positive price, as well as a few of the negatives, like high levels of risk from pharma’s patent cliffs and managed care mis-pricing. The firm views Illumina as the relative “loser” in next-generation gene sequencing and calls Guardant its top pick among the molecular diagnostics companies.
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Read More on RVTY:
- Revvity price target lowered to $151 from $155 at TD Cowen
- Revvity price target lowered to $147 from $165 at Baird
- Revvity price target raised to $130 from $125 at Barclays
- Revvity sees FY23 adjusted EPS $4.70-$4.90, consensus $4.94
- Revvity reports Q2 adjusted EPS $1.21, consensus $1.18
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