20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
RBC Capital Markets has downgraded Abcam PLC (NASDAQ:ABCM) from Outperform to Sector Perform with a price target of $22, down from $23.
The analyst writes that it has always liked Abcam's fundamentals but sees activist investor engagement and anticipation of a potential bid as likely to drive material share volatility.
Earlier today, Abcam filed an investor presentation, urging shareholders to vote against all resolutions at the company's July 12 Extraordinary General Meeting.
The company points out that under CEO Alan Hirzel's leadership, Abcam has transformed as a business, created significant value for all stakeholders, and outperformed the market.
The company is on track to deliver its 2024 revenue and profit margin goals.
The analyst says any major players in the life science tools space could be interested in Abcam, with its leading position in high-margin research antibodies, strong growth and margin trajectory, and brand and distribution reach.
Thermo Fisher Scientific Inc (NYSE:TMO), Danaher Corporation (NYSE: DHR), Merck KGaA (OTC:MKGAF) (OTC:MKKGY), Agilent Technologies Inc (NYSE: A), Bio-Techne Corp (NASDAQ:TECH) and Revvity Inc (NYSE:RVTY) could be interested, based on their EBITDA, current leverage and an assumption of max 3x leverage.
Private equity would potentially be interested.
Price Action: ABCM shares are down 6.95% at $20.76 on the last check Tuesday.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!