Bio-Rad price target raised to $469 from $446 at RBC Capital

RBC Capital raised the firm’s price target on Bio-Rad (BIO) to $469 from $446 and keeps an Outperform rating on the shares. The company beat EBITDA estimates by over $30M with $4M-$5M coming from higher royalties and the rest of the beat broad based from mix, efficiencies, spending control, and better than expected revenue growth in both segments, the analyst tells investors in a research note.