UPDATE: Jefferies Increases PT to $125 on Bio-Rad Laboratories; Improved Profitability
Jefferies increases its price target from $120 to $125 on Buy-rated Bio-Rad Laboratories (NYSE: BIO, reflecting the company's solid core profitability.
Jefferies says, "BIO's 1Q12 GAAP EPS of $1.09 was $0.02 below consensus, but $0.09 ahead of our forecast as better profitability and a discrete gain below the line offset modestly weaker revenue growth & a higher tax rate. We are raising our 2012 EPS forecast to $5.35 (from $5.25) to account for the 1Q12 upside."
BIO closed at $108.15 on Tuesday.
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