Market Overview

UPDATE: JP Morgan Downgrades Bruker Corporation to Neutral on Macro Risk

Share:
Related BRKR
Mid-Afternoon Market Update: Genworth Financial Rises On Earnings Beat; Cray Shares Slide
Mid-Day Market Update: Crude Oil Up 2.5%; Rubicon Project Shares Tumble Following Disappointing Outlook

JP Morgan cut its rating on Bruker Corporation (NASDAQ: BRKR) from Overweight to Neutral and reduced its price target from $17 to $16.

JP Morgan noted, "We are lowering our rating on BRKR from Overweight to Neutral on macro risk, given outsized exposure to Europe (41% of sales) and the potential for a slowdown in the industrial business (e.g., Veeco, CAM); we are reducing December 2012 price target from $17 to $16. … Given significant uncertainty globally, but especially in the EU (~41% of sales), we believe that it is prudent to move to the sidelines, until we see a pronounced slowing in growth in order rates."

Bruker Corporation closed at $13.39 on Tuesday.

Latest Ratings for BRKR

DateFirmActionFromTo
Aug 2016BarclaysMaintainsOverweight
Aug 2016Janney CapitalUpgradesNeutralBuy
Aug 2016Wells FargoDowngradesOutperformMarket Perform

View More Analyst Ratings for BRKR
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Downgrades Price Target Pre-Market Outlook Analyst Ratings

 

Related Articles (BRKR)

View Comments and Join the Discussion!