UPDATE: Jefferies Color On BIO Target Increase

Jefferies, which raised its PT on shares of Bio-Rad Laboratories, Inc. BIO, is providing some color on the stock. “BIO's adjusted 1Q11 EPS of $1.26 was $0.06 below consensus as a higher tax rate and below the line items offset a better than expected revenue growth experience,” Jefferies writes. “We are raising our 2011 EPS forecast to $6.15 (from $6.10). Our price target moves to $145 (from $127) on higher cash flow forecasts.” Bio-Rad Laboratories closed Tuesday at $126.20.