KeyBanc analyst Paul Knight upgraded PerkinElmer to Overweight from Sector Weight with a $170 price target. Following the sale of the analytical instruments business, PerkinElmer will likely be one of the "fastest-growing and highest-margin companies" in the life science industry, Knight tells investors in a research note. In addition, with high diagnostic exposure in China, the reopening of that market will driving fiscal 2023 revenue above the 10% guidance, says the analyst. He thinks that with operating metrics above peers, PerkinElmer is deserving of a premium multiple to the sector average.
Published first on TheFly
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