Bio-Techne resumed with an Overweight at Stephens

Stephens analyst Steven Etoch resumed coverage of Bio-Techne (TECH) with an Overweight rating and $65 price target The firm says the company through acquisitions has a “high-quality” recurring-revenue life science tools platform. The shares are down 27% year-to-date, creating Bio-Techne’s lowest valuation since 2017, on “transitory headwinds” tied to government and academic funding concerns, the analyst tells investors in a research note. Stephens is constructive on the company’s exposure to secular growth themes in diagnostics and cell and gene therapy.