In a report released yesterday, Daniel Brennan from TD Cowen maintained a Hold rating on Bruker, with a price target of $42.00.
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Daniel Brennan’s rating is based on a combination of factors that highlight both positive developments and uncertainties surrounding Bruker’s performance. The company showed signs of improving demand in the third quarter, particularly in regions such as Europe and Japan, as well as in sectors like large pharma and applied industries. However, management remains cautious, preferring to wait for fourth-quarter results before committing to a more optimistic outlook.
Despite the organic growth and improved bookings in the third quarter, management’s reluctance to declare the upturn as sustainable has influenced the Hold rating. The uncertainty about whether the demand improvements will persist into the fourth quarter and beyond is a significant consideration. Brennan has adjusted the price target slightly upward, reflecting a cautious optimism while acknowledging the need for more evidence of sustained growth before upgrading the rating.
According to TipRanks, Brennan is a 5-star analyst with an average return of 21.9% and a 57.81% success rate. Brennan covers the Healthcare sector, focusing on stocks such as Bruker, Natera, and Guardant Health.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $41.00 price target.