UPDATE: Goldman Sachs Upgrades Bruker Corporation to Buy on Operational Improvements
Goldman Sachs raised its rating on Bruker Corporation (NASDAQ: BRKR) from Neutral to Buy and raised its price target from $13 to $19.
Goldman Sachs commented, "We upgrade shares of Bruker (BRKR) to Buy from Neutral and raise our 12-month price target to $19 (from $13), which implies 40% upside. After underperforming Tools peers by 1000bp YTD, we see a turnaround story for 2013 with healthy organic growth, margin expansion, and an attractive risk/reward profile coupled with the following catalysts: (1) better-than-expected strength in core end markets, (2) pending detail on long-term margin expansion plans, and (3) low expectations/valuation that sets up a “laggards to leader” trade."
Bruker Corporation closed at $13.61 on Friday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.