10:20 AM EDT, 04/29/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lower our target price to $103 from $106, 19.8x our 2025 EPS estimate. We cut our 2024 EPS estimate to $4.59 from $4.70, which stands at the low end of the reaffirmed guidance range. We trim our 2025 view to $5.19 from $5.29. Q1 EPS of $0.98 vs. $1.01 was $0.08 below our estimate and $0.04 below the consensus. Q1 revenue, down 4% Y/Y, was roughly in line with expectations, $3M above the consensus and $7M above our forecast as flat revenue performance in Diagnostics ($347M) was slightly better than our expectations, driven by immunodiagnostics. This offset the 8% Y/Y drop in Life Sciences sales as weaker demand trends across customer categories continued. RVTY lowered its revenue guidance range for 2024 to $2.76B-$2.82B, which it linked to a neutral FX impact vs. a tailwind expectation earlier. Based on management's comments today, we continue to see a volatile market environment in Q2 and Q3 for RVTY, which we think may be more challenging to navigate vs. large peers. Thus, we maintain our Hold view.