NEW YORK (GenomeWeb News) – William Blair initiated coverage of Bruker on Wednesday with an Outperform rating and a Core Growth company profile.
Analyst Amanda Murphy estimated 2011 EPS at $.89 on $1.63 billion in revenues, and 2012 EPS at $1.05 on $1.77 billion in revenues.
In a research note, Murphy cited Bruker's spending on R&D, which she said is higher than its peers on a percentage-of-revenue basis, resulting in strong brand reputation and a "robust" IP portfolio.
She added that the company is "one of the most well-diversified companies on our coverage list" with about 3 percent to 4 percent of total revenues derived from National Institutes of Health funding, and total government funding comprising around 9 percent of company-wide revenues. Future growth opportunities include further penetration into the applied markets and operating margin leverage, Murphy said.