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PerkinElmer, Inc. (PKI)
by Zacks Equity ResearchNovember 09, 2012 | Comments : 0 Recommended this article: ()
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It has added new related areas as part of its reorganization and divested unrelated businesses. As a consequence, it has emerged as a higher-growth, higher-margin company. Its operations, both sales and manufacturing, are diversified on a geographic basis. The company has implemented cost containment measures. Growing recurring revenue stream and operating margin expansion are its pillars of strength.
In the end, our Outperform recommendation is supported from a valuation perspective and a favorable risk-reward tradeoff. Based on the company's recent performance, we upgrade our price target to $38.00, which is based on a P/E of approximately 18.4x our 2012 EPS estimate.