Kyle Boucher, an analyst from TD Cowen, reiterated the Buy rating on Bio-Techne. The associated price target remains the same with $70.00.
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Kyle Boucher has given his Buy rating due to a combination of factors that suggest a positive outlook for Bio-Techne. Despite a recent dip in the stock price following an earnings call, the issues were primarily related to timing, and the underlying market drivers are showing signs of improvement. The company’s management has indicated that while there might be a short-term dip in organic growth, the longer-term prospects are promising with expected margin expansion.
Additionally, the end markets for Bio-Techne, particularly in the pharmaceutical sector, are gaining momentum. Large pharmaceutical customers are experiencing robust growth, and there are early signs of recovery in biotech funding. These factors, combined with the stabilization of the US academic market, contribute to a favorable environment for the stock’s performance, supporting the Buy rating from Kyle Boucher.
According to TipRanks, Boucher is ranked #5619 out of 10072 analysts.