NEW YORK, April 28 (GenomeWeb News) - Piper Jaffray yesterday increased Applied Biosystems' 12-month share price target yesterday and increased the company's rating to 'Outperform.'
The securities firm now expects ABI's shares to reach $33 within 12 months. It had expected it to reach $27. The stock closed up to $28.50 yesterday.
As GenomeWeb News reported yesterday, ABI said that fiscal third-quarter sales increased 8 percent as R&D spending declined 6 percent and profits surged 121 percent.