UPDATE: Citi Upgrades Life Technologies to Buy

According to Citi, Life Technologies LIFE 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.