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Fly News Breaks for April 9, 2019
PKI
Apr 9, 2019 | 06:04 EDT
Goldman Sachs analyst Patrick Donnelly upgraded PerkinElmer to Buy from Neutral and added the shares to his firm's Conviction List. He upped his price target for the stock to $115 from $92. The analyst sees 2019 as a continuation of the growth acceleration seen in 2018 "with overly conservative" guidance and with consensus estimates "largely mirroring management expectations." PerkinElmer's Diagnostics business has a path to 10%-12% organic growth, driving the company's organic growth level to among the best in Tools, Donnelly tells investors in a research note. He believes consensus expectations are currently "underappreciating the conservatism" built into the core PerkinElmer business.
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