Piper Sandler Launches Coverage on Bio-Techne (TECH), Prefers Patience on Sector Growth Drivers

Bio-Techne Corporation (NASDAQ: TECH ) is included among Billionaire Larry Robbins' 10 Dividend Stock Picks .

On June 11, Piper Sandler initiated coverage of Bio-Techne Corporation (NASDAQ:TECH) with a Neutral rating and a $65 price target. The firm began coverage of the life science tools sector with what it described as a "feet in the shallow end of the pool" approach. Among the companies under coverage, Piper only recommends buying Twist Bioscience, citing its increasing exposure to next-generation drug discovery and development.

According to the analyst, headwinds tied to biotech and academic spending, along with China-related exposure, are likely to improve in the near term. Even so, Piper wants to see some of the sector's next major growth drivers take shape before becoming more constructive on additional stocks.

The firm argues that investors "can buy multi-year growth compounding stocks early, middle, and late into their growth cycles but would simply prefer to wait out a couple quarters for the sector to perform like it did pre-COVID."

Bio-Techne Corporation (NASDAQ:TECH) develops, manufactures, and sells life science reagents, instruments, and services for the research, diagnostics, and bioprocessing markets worldwide.

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