Bruker assumed with Neutral on ‘optimistic’ forecasts at UBS

UBS analyst Dan Leonard initiated coverage of Bruker (BRKR) with a Neutral rating and $66 price target The rating is a downgrade from the firm’s prior Buy before going suspended on the name. The Neutral rating balances an appreciation for the diversity of Bruker’s growth drivers offset by the reality that Street forecasts “look optimistic,” the analyst tells investors in a research note. The firm says that while Bruker’s product and end market diversity could enable industry-matching sales growth, the current market environment remains challenged.