NEW YORK (TheStreet) -- Brooks Automation (BRKS) shares are up 1.84% to $10.52 in pre-market trading on Monday after being upgraded to "buy" from "hold" by analysts at Stifel (SF).
The firm initiated a $13 price target on the shares, suggesting a 26% increase from the company's closing price on Friday.
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The upgraded outlook rests on the improved performance of the company's life sciences division.
"We are now comfortable with the company's growth prospects in its emerging life sciences business and as we have cited previously, we believe the growth in this area will be the key driver in the overall company's fortunes and the appreciation potential in the stock," said the firm.
Separately, TheStreet Ratings team rates BROOKS AUTOMATION INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate BROOKS AUTOMATION INC (BRKS) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and increase in net income. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and relatively poor performance when compared with the S&P 500 during the past year."