Raymond James starts Azenta at Market Perform on transport business struggles

As previously reported, Raymond James analyst Andrew Cooper initiated coverage of Azenta with a Market Perform rating and no price target as the firm expands its coverage to “more substantially include” players in the Life Science Tools & Services space. The firm likes that Azenta is a “leader” in sample storage, which it views as a market that should “grow well,” but it pauses given the view that the acquired B Medical vaccine transport business has “struggled out of the gate” and its growth expectations were cut, the analyst tells investors.