UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on PerkinElmer

In a report published Friday, Jefferies & Company reiterated its Hold rating on PerkinElmer PKI, and raised its price target from $30.00 to $32.00. Jefferies noted, “PKI's 3Q12 EPS of $0.45 was $0.01 ahead of consensus on materially stronger core revenue growth (+6% vs. +4% consensus) and a slightly lower tax rate (+$0.01), partially offset by higher discretionary investment spend levels. We are raising our 2012 and 2013 EPS forecasts to $2.06 (from $2.03) and $2.30 (from $2.28), respectively. Our PT moves to $32 (from $30).” PerkinElmer closed on Thursday at $28.50.