Stephens upgraded Azenta (AZTA) to Overweight from Equal Weight with a price target of $60, up from $50. The firm, which says it has been “encouraged” by the company’s Ascend 2026 efforts, adds that the company now has a new management team that “seems to be doubling down on these operational efforts,” including simplifying the business. The firm, which sees “plenty of room for margin expansion,” argues that if Azenta gets to the peer average of SG&A/revenue, it can get to about 20% EBITDA margins. In addition to upgrading Azenta to Overweight, the analyst is naming it a “Best Idea,” replacing BioLife Solutions (BLFS).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
