NEW YORK (AP) — A Cowen & Co. analyst downgraded shares of Life Technologies Corp. Thursday, saying the stock has risen to a fair price.

THE OPINION: Analyst Doug Schenkel lowered his rating to "Neutral" from "Outperform." He said it is possible the life science and medical research instrument maker will be sold, but if that happens, the sale price won't be much higher than the current price of Life Technologies shares. He added that the company's earnings probably won't be much greater than Wall Street's estimates.

FactSet says analysts expect the company to earn $4.37 per share this year.

In January the Carlsbad, Calif., company said it had hired a bank to assist in its annual strategic review but had not decided on any specific course of action. Schenkel said Life Technologies could sell for about $62 per share in a leveraged buyout, while a competitor making a strategic deal probably wouldn't pay more than $65 to $70 per share.

Earlier this month The Wall Street Journal said investment manager KKR & Co. was considering pairing up with other private equity firms to pursue Life Technologies, while industrial and medical equipment maker Danaher Corp. and scientific instrument maker Thermo Fisher Scientific Inc. are considering bids.

THE STOCK: Life Technologies lost $1.13 to $64.14 in afternoon trading. The shares are up 33.1 percent so far this year. The stock peaked at an all-time high of $65.84 on Jan. 30.

About News.net

Publishing Services International Limited (PSIL) is the publisher and operator of a worldwide network of online news sites dedicated to delivering fair, accurate and relevant reporting from a variety of the world’s most trusted sources – from the biggest cities to the smallest towns.

We deliver positive and powerful messages to our readers, providing up‑to‑the‑second news that matters to the individual.

Our promise is to serve communities and individuals worldwide, delivering information that hasn’t always been available to them. We will give them back a voice – a voice that’s empowering because it is theirs – and provide a platform to communicate between themselves and the world.

We believe people are not just generic demographics; they are individuals with their own preferences and curiosities. We are about understanding these individuals, listening to them, and serving them.

We are the new pioneering spirit of news – we’re not talking to everyone, we’re talking with every one.

If you want your news, your voice, your way, on your time – we’ve got news for you.

 

FAQs

Email

If you have any questions or concerns please email us on support@news.net

Phone

  • Australia, Toll Free 1-800-983-421
  • Hong Kong, Toll Free 800-906-187
  • Singapore, Toll Free 800-852-3871
  • USA/Canada, Toll Free 1-800-830-4132

Advertise With Us

Interested in being awesome?
Contact us by email or phone.

Cancel