Bruker BioSciences Corp. (BRKR)

[MSC290]

Bruker Edges Up After Upgrade

NEW YORK — Bruker BioSciences Corp., which makes X-ray technology and molecular analysis tools, rose Wednesday after an analyst upgraded the stock, saying a recent slide in share price has eliminated much of the risk in the stock.

Shares have fallen 22.2 percent since hitting a five-year high of $11.56 on April 30.

Noting that the stock was near his target price of $9, Bear Stearns analyst Stephen Unger upgraded the stock to "Peer Perform" from "Underperform." He said the company could exceed analyst estimates due to better sales at its optics business.

Unger sees little chance Bruker will miss his 2007 and 2008 profit estimates, which are significantly below other analysts' predictions. He forecast the Billerica, Mass.-based company to earn 20 cents per share this year, and 25 cents per share next year.

On average, analysts polled by Thomson Financial forecast a profit of 25 cents per share in 2007 and 31 cents per share in 2008.

Shares added 14 cents to $9.13 in afternoon trading Wednesday.

http://www.chron.com/disp/story.mpl/ap/fn/4925252.html