Bio-Techne initiated with an Overweight at Wells Fargo

Wells Fargo analyst Brandon Couillard initiated coverage of Bio-Techne (TECH) with an Overweight rating and $59 price target The firm believes Bio-Techne’s “unique” portfolio is well positioned to deliver sustained above-average organic revenue and earnings growth. The company is exposed to high-growth verticals, such as good manufacturing practice reagents, proteomic instruments, spatial biology and precision diagnostics, the analyst tells investors in a research note. Wells believes the recent pullback in the shares offers a compelling entry point.