UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on Life Technologies

In a report published Friday, Jefferies & Company reiterated its Buy rating on Life Technologies LIFE, and raised its price target from $55.00 to $58.00. Jefferies noted, “LIFE's 3Q12 EPS of $0.92 was $0.03 ahead of consensus on stronger profitability trends and a lower share count (+$0.01). We are raising our 2012 and 2013 EPS forecasts to $3.97 (from $3.90) and $4.20 (from $4.15), respectively, to account for the 3Q12 upside and the accretive effects of recent share repurchase activities. Our PT moves to $58 (from $55).” Life Technologies closed on Thursday at $50.27.