Brean Murray Carret & Co. Believes Pullback In Bruker Represents Opportunity (BRKR)
Today, Brean Murray Carret & Co. released a research note, arguing that the recent pullback in Bruker Corp. (NASDAQ: BRKR) stock offers an attractive buying opportunity. The analyst noted that a major shareholder has sold his remaining 2 million shares as of yesterday, and that this should alleviate negative pressure on the stock. Also, CEO Frank Laukien added another 100,000 shares to his position and currently owns close to 24% of the company. The analyst also believes that Bruker (BRKR) is on track to deliver upside to consensus estimates when they report in late April.
The analyst wrote that "we view the unwarranted pullback as an opportunity to build both short and long-term positions in the stock ahead of the quarter. We reiterate out Buy rating and $18 price target." During the current trading session, BRKR shares have lost another 2.45% to $13.52.
According to Google Finance, "Bruker Corporation is a global manufacturer of scientific instruments that address the needs of a diverse array of customers in life science, pharmaceutical, biotechnology and molecular diagnostics research, as well as in materials and chemical analysis. Its core technology platforms include x-ray technologies, magnetic resonance and mass spectrometry technologies, infrared spectroscopy and Raman spectroscopy technologies."
