Citi puts ‘positive catalyst watches’ on three life science stocks

Citi analyst Patrick Donnelly put "positive catalyst watches" on shares of Bio-Techne (TECH), PerkinElmer (PKI) and Danaher (DHR) following the Q4 reports. For Bio-Techne, the analyst sees more reasonable expectations and an improving outlook on China and Europe. For PerkinElmer, the analyst sees potential upside from a China diagnostics recovery and a "compelling valuation." And for Danaher, the firm thinks acquisition news flow has been digested and that bioprocessing and inventory destocking headwinds in the first half of 2023 are well understood given the share pullback.