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UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Bio-Rad Laboratories on 4Q12 Non-GAAP EPS

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In a report published Wednesday, Jefferies reiterated its Buy rating on Bio-Rad Laboratories (NYSE: BIO), and raised its price target from $124.00 to $140.00.

Jefferies noted, “Excluding the benefit of a discrete gain (+$0.08), BIO's 4Q12 non-GAAP EPS of $1.57 was $0.23 (+17%) above consensus on a vastly better core revenue growth experience. We are raising our 2013 EPS forecast to $5.80 (from $5.75). Our price target moves to $140 (from $124) on higher cash flow forecasts.”

Bio-Rad Laboratories closed on Tuesday at $117.30.

Latest Ratings for BIO

DateFirmActionFromTo
Feb 2013JefferiesMaintainsBuy
Jan 2013CLSAUpgradesUnderperformOutperform
May 2012Jefferies & CompanyMaintainsBuy

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