BofA raised the firm’s price target on Bruker to $95 from $85 and keeps a Buy rating on the shares after the company’s Q4 results came in ahead of expectations and its 2024 guidance calls for above peer growth continuing. The firm expected a “solid” 2024 outlook, but was “surprised” to see Bruker pull forward the revenue and adjusted EPS targets for 2026 given at the June 2023 analyst day to 2025, the analyst tells investors. However, management did not accelerate their 2026 operating margin goal of 21-22%, which is still on track, the analyst noted.
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