Analyst Daniel Brennan of TD Cowen maintained a Hold rating on Bruker (BRKR – Research Report), reducing the price target to $55.00.
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Daniel Brennan has given his Hold rating due to a combination of factors affecting Bruker’s current and future potential. Brennan acknowledges that the stock has become more appealing in terms of valuation, with several promising growth drivers and healthy margins. However, despite these positive aspects, there remains uncertainty regarding external factors such as potential NIH budget cuts which could pose a risk, although management downplays these concerns.
Additionally, Bruker’s organic growth in key segments like CALID and NANO was strong, yet growth in other areas like Biospin was less robust. The company’s bookings trends indicate a slight backlog improvement, yet the normalization process is expected to be gradual. Moreover, despite a year-over-year decrease in revenue from China, the company experienced an uptick in orders, influenced by stimulus-related activities. These mixed signals contribute to Brennan’s cautious Hold stance, as he waits for more consistent positive momentum.
Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is neutral on the stock.