Bruker price target lowered to $78 from $79 at BofA

BofA lowered the firm’s price target on Bruker (BRKR) to $78 from $79 and keeps a Buy rating on the shares. Bruker’s Q3 results came in below estimates and the company cut its organic sales growth outlook for fiscal 2024, citing slower recovery in China and with nascent biopharma, the analyst tells investors in a research note. The firm notes that the guidance cut was not due to a major deterioration in markets in Q3, but rather “overly aggressive” prior guidance. Despite the guidance cut, management struck a positive tone on 2025, BofA says.