Analyst David Saxon of Needham reiterated a Buy rating on Azenta, retaining the price target of $40.00.
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David Saxon has given his Buy rating due to a combination of factors including Azenta’s performance and future prospects. Despite a revenue shortfall in the third quarter of fiscal year 2025, Azenta exceeded expectations in both EBITDA and EPS, and the management has maintained its guidance for the full fiscal year.
Additionally, while there was a decline in the Core Products segment, this was partially balanced by growth in other areas such as SRS and Multiomics. The anticipation of a B Medical transaction and a strong pipeline for mergers and acquisitions further supports the positive outlook. Saxon also points to an upcoming Investor Day as a potential catalyst for showcasing Azenta’s long-term growth and profitability, reinforcing the Buy recommendation.