UPDATE: Citi Upgrades Life Technologies to Buy

According to Citi, Life Technologies

is upgraded to Buy. Citi said that it is upgrading to Buy (from Neutral) and increasing its target to $56 (from $52). “We believe the Ion Torrent platform will generate about $140-150M in revs for LIFE in 2012 (up from about $70M in 2011). See our 2/21 AGBT Wrap Up note and 2/21 Oxford note for more details.” Life Technologies closed on Friday at $45.92.