NEW YORK, June 3 (GenomeWeb Daily News) - An analyst for Leerink Swann initiated coverage of Fisher Scientific, and has given the company an 'Outperform' rating, the investment bank said today.
John Sullivan, senior biotechnology and life sciences analyst for Leerink Swann said Fisher's "record of internal and acquired growth, the expansion of its strong franchise in life science consumables, and its strategy of adding higher margin products to its mix" fueled his decision.
Fisher acquired proteomics shop Perbio in 2003 and RNAi tools provider Dharmacon one year later. As GenomeWeb News reported last week, the company said it is eyeing potential acquisitions as it continues to look for ways to grow its footprint in the life-sciences market.
Fisher said it is focusing on higher-growth consumables plays in the molecular biology tools field, Vice Chair Paul Meister said during a recent investor conference.
He said Fisher expects $400 million in cash flow this year, which would ensure the company is flexible for any potential acquisition targets that come its way.