Azenta (AZTA – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on January 18. Analyst David Saxon from Needham remains neutral on the stock and has a $76.00 price target.
Geoff Meacham has given his Buy rating due to a combination of factors that suggest a positive outlook for Azenta’s future financial performance. Management’s expectations of revenue growth accelerating into the low-teens, along with adjusted EBITDA margins reaching the mid-teens, paint a promising picture of the company’s financial trajectory. Furthermore, the company’s commitment to shareholder value through a $500M share repurchase program set for calendar year 24 serves to reinforce confidence in Azenta’s stock prospects.
The reassessment of Azenta’s target price, which has been elevated from $68 to $76, is anchored in the forward-looking valuation metric extending into calendar year 25 revenue. This adjustment reflects an optimistic view of the company’s continued growth and profitability, underlining the rationale behind the Buy rating. Meacham’s evaluation indicates that the company’s improving fundamentals, coupled with strategic financial maneuvers, provide a solid foundation for a positive investment recommendation.
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Azenta (AZTA) Company Description:
Brooks Automation, Inc. engages in the provision of automation and cryogenic solutions for multiple markets, including semiconductor capital equipment and life science biological sample management and storage. It operates through the Brooks Semiconductor Solutions Group and Brooks Life Sciences segments. The Brooks Semiconductor Solutions Group segment include atmospheric and vacuum robots, robotic modules and tool automation systems that provide precision handling and clean wafer environments, as well as cryogenic pumps and compressors that provide vacuum pumping and thermal management solutions used to create and control critical process vacuum applications. The Brooks Life Sciences segment provides automated cold sample management systems for compound and biological sample storage, equipment for sample preparation and handling, consumables, and parts and support services to a range of life science customers including pharmaceutical companies, biotechnology companies, bio-banks and research institutes. The company was founded in 1978 and is headquartered in Chelmsford, MA.
