Bio-Techne upgraded to Outperform at RBC on forecast multiple expansion

As previously reported, RBC Capital analyst Conor McNamara upgraded Bio-Techne (TECH) to Outperform from Sector Perform with a price target of $73, up from $61. The firm expects a return to mid-to-high-single digit growth in the next 12 months to drive multiple expansion that better reflects Bio-Techne’s ability to consistently grow revenue faster than larger Integrator peers, the analyst tells investors. In addition, exposure to high growth areas – like bioprocessing and regenerative medicine – should continue to fuel growth expectations over the next 12 months, the analyst says.