Analyst Michael Ryskin of Bank of America Securities maintained a Buy rating on Revvity, retaining the price target of $105.00.
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Michael Ryskin has given his Buy rating due to a combination of factors that indicate a positive outlook for Revvity. The company’s management has expressed confidence in overcoming recent industry challenges, suggesting that the true strengths of Revvity are beginning to emerge as market conditions improve. This optimism is particularly evident in the pharmaceutical sector, where recent deals and increased activity in mergers and acquisitions signal a potential turnaround after a period of downturn.
Furthermore, Revvity’s strategic focus on software development is noteworthy, with strong growth observed from recent launches and promising future products that leverage artificial intelligence. Although the China diagnostics business remains a concern, its impact is diminishing, and growth in other regions is becoming more prominent. Additionally, cost-saving measures are expected to improve operating margins by 2026, providing a solid financial foundation for future growth. These factors collectively support the Buy rating, with a price objective of $105.00 USD.
Ryskin covers the Healthcare sector, focusing on stocks such as Illumina, Agilent, and Thermo Fisher. According to TipRanks, Ryskin has an average return of 4.6% and a 55.08% success rate on recommended stocks.