Citi Has Thoughts On Life Technologies After Meeting With Management (LIFE)

Citi Investment Research has thoughts on Life Technologies Corp LIFE after meeting with company management. It is maintaining a Buy rating, and a $62 price target on shares. In the research report, Citi writes, "Next Generation Sequencing (NGS) — Mgmt remains bullish on NGS indicating that today's $700-800M market is expected to grow to $1.4B in 2013 (LIFE's NGS business is about $90-100M). While SOLiD market share is not at mgmt's expectations, it believes Ion Torrent will help narrow the competitive gap over the next 3-5 years. Also, the SOLiD PI and SOLiD HQ launches are expected to take place by the end of Dec. and March, respectively. No more acquisitions in sequencing are expected for LIFE." Shares of Life Technologies gained 51 cents on Friday to close at $46.91, a gain of 1.1%.