Wells Fargo initiates Revvity with an Equal Weight, $130 price target

As previously reported, Wells Fargo initiated coverage of Revvity with an Equal Weight rating and $130 price target. Revvity’s long-term plan calls for +6%-8% core growth, which may prove optimistic near-term, given ongoing headwinds in early-stage R&D spend, the firm says. While margins/free cash flow could surprise to the upside, pending greater conviction in the moving pieces, Wells stays on the sidelines.