Bio-Rad initiated with an Overweight at Wells Fargo

Wells Fargo initiated coverage of Bio-Rad Laboratories with an Overweight rating and $550 price target. The analyst sees an attractive valuation, an opportunity for the company to close its operating margin gap relative to peers, and “achievable” long-term growth guidance. Bio-Rad has a “compelling” portfolio targeting high-growth areas in its end markets and continues innovating to support growth, the analyst tells investors in a research note. The firm says several key near-term investor concerns were addressed with the recent cut to the company’s fiscal 2025 targets.