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

In a report published Wednesday, Jefferies reiterated its Buy rating on Bio-Rad Laboratories

, 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.