Jefferies Maintains Hold on PerkinElmer (PKI)

Jefferies is out with its report today on PerkinElmer PKI, maintaining Hold, and its $26 PT. In a note to clients, Jefferies writes, "PKI will acquire CambridgeSoft and ArtusLabs, designers of laboratory software and systems management solutions, for $220M, or ~3.4 times anticipated annualized revenue of ~$65M (+4%). Our 2011 EPS forecast and price target remain unchanged as anticipated EPS accretion from the deals offset reduced expectations for share repurchase activities in 2H11." At the time of posting, shares of PKI were trading pre-market at $26.20, up 0.61% from Thursday's close.