Benchmark Increases PT on BRLI

According to a recent report from Benchmark, revenue for Bio-Reference Labs BRLI was up over 24% for F2Q11, exceeding the consensus and forecast previously predicted for the company. Due to these earnings, Benchmark is increasing the price target from $25.00 to $29.00. In the report, Benchmark said, "We look forward to continued robust earnings expansion in the second half, driven by seasonality and the likelihood of expanding earnings leverage as the prenatal and solid tumor testing businesses advance in their respective commercialization and launch." Bio-Reference Labs closed yesterday at $23.40.