UBS downgraded Revvity to Neutral from Buy with a price target of $125, up from $105. The company’s growth algorithm is now more similar to peers versus upside differentiated, the analyst tells investors in a research note. The firm says that following another long-range plan reduction last week and mixed channel feedback, it increasingly questions Revvity’s ability to drive differential growth. The company’s Revvity’s second half of 2023 results and 2024 framing thoughts suggest its growth prospects are more in line with peers than upside differentiated, contends UBS.
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