UPDATE: Stifel Upgrades Brooks Automation As Life Sciences Are Key To Growth

In a report published Friday, Stifel analyst Patrick Ho upgraded the rating on Brooks Automation (NASDAQ: BRKS) from Hold to Buy, and named a $13.00 price target.

In the report, Stifel noted, “We are upgrading shares of Brooks Automation from a Hold to a Buy rating and establishing a $13 target price, which we believe reflects a sum-of-parts valuation analysis over the next few years. 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.”

Brooks Automation closed on Thursday at $9.92.