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PerkinElmer upgraded to Overweight from Sector Weight at KeyBanc
The Fly

PerkinElmer upgraded to Overweight from Sector Weight at KeyBanc

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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