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Barclays Upgrades Revvity to Overweight

NEW YORK – Barclays said Tuesday that it has upgraded Revvity's shares to an Overweight rating from Equal Weight on stability in Revvity's diagnostics business and growth above peers in its life sciences and reagents business.

The bank also increased the price target for Revvity's shares to $140 from $125.

Barclays analyst Luke Sergott wrote in a report to investors that Revvity's immunodiagnostics business is growing in the high single digits due to an expanded menu and geographic reach for its Euroimmun business. The life sciences business, meanwhile, is outperforming the overall tools market and is expected to improve its performance in 2025 as biopharma firms establish higher budgets.

He added that Revvity has a compelling portfolio of niche diagnostics products and services and a focus on emerging markets, and the firm's fundamental profile is attractive compared to its peers. It has exceeded expectations in the integration of M&A deals, and its China business is growing faster than anticipated.

The firm's performance could be impacted, however, by any deterioration of the markets in China, problems in integrating recent acquisitions, and weakness in the drug discovery market, Sergott noted.

On Tuesday morning, Revvity's shares were up 2 percent at $124.96.