UPDATE: Deutsche Bank Raises Target to $15 on Bruker
Deutsche Bank raises its target price on Hold-rated Bruker (NASDAQ: BRKR) to $15 from $14 following takeaways from the fourth quarter calls.
Deutsche Bank says, "Top-line came in above preannounced levels, driven by double digit growth in BSI segment. Bookings up healthily with ending backlog well over $1 billion. Initiated FY12 revenue guidance of $1.76-$1.81 Bn and BSI EPS of $0.94-$0.98. BRKR had a good finish to the year, and noted that its visibility remained high over the next 6 months. However, we contend that academic CapEx orders tend to be quite capricious, and cause us to reiterate our Hold rating, but raise our PT to $15.00 (from $14.00) on peer multiple expansion."
BRKR closed at $16.05 a share on Wednesday.
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