The Fly

PerkinElmer upgraded to Equal Weight from Underweight at Barclays

Barclays analyst Luke Sergott upgraded PerkinElmer to Equal Weight from Underweight with a price target of $145, up from $130. The analyst believes traditional tools companies are likely to continue to outperform as "investors digest a slowing bioprocessing market and what that means for 2023 growth." Post the Applied, Food and Enterprise Services businesses sale, PerkinElmer’s fundamental profile is one of the more attractive in the group, Sergott tells investors in a research note. He believes investor sentiment "has bottomed" and that estimates are "set low-enough to de-risk any material downside surprises."

Published first on TheFly

See Insiders’ Hot Stocks on TipRanks >>

Read More on PKI:

Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More