William Blair analyst Matt Larew has maintained their bullish stance on TKNO stock, giving a Buy rating today.
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Matt Larew has given his Buy rating due to a combination of factors including Teknova’s strong execution in a challenging market environment. The company has exceeded expectations by maintaining its revenue guidance and increasing its gross margin guidance, showcasing significant progress in its financial performance. The improvement in gross margins and effective expense control indicate a strong likelihood of reaching its adjusted EBITDA breakeven target, which is a positive signal for investors.
Additionally, Teknova’s positive customer engagement and the potential to meet or exceed its guidance further support the Buy rating. The company is well-positioned to benefit from any improvement in end-markets, making it an attractive small-cap investment. Despite trading at a slightly higher multiple compared to peers, the company’s strong performance and future potential justify the Outperform rating.
According to TipRanks, Larew is an analyst with an average return of -8.1% and a 38.33% success rate. Larew covers the Healthcare sector, focusing on stocks such as 908 Devices, AptarGroup, and Maravai Lifesciences Holdings.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $10.00 price target.