BofA lowered the firm’s price target on Bruker (BRKR) to $78 from $79 and keeps a Buy rating on the shares. Bruker’s Q3 results came in below estimates and the company cut its organic sales growth outlook for fiscal 2024, citing slower recovery in China and with nascent biopharma, the analyst tells investors in a research note. The firm notes that the guidance cut was not due to a major deterioration in markets in Q3, but rather “overly aggressive” prior guidance. Despite the guidance cut, management struck a positive tone on 2025, BofA says.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on BRKR:
- Morning Movers: GlobalFoundries and Apollo Global gain following Q3 results
- Bruker Sees FY24 EPS $2.36-$2.41 , consensus $.2.59
- Bruker reports Q3 EPS 60c, consensus 59c
- BRKR Upcoming Earnings Report: What to Expect?
- UPC rules in favor of Bruker and NanoString invalidating 10x Genomics patent
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
