Bio-Techne Corp

TECH: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$24.00	Qdgdlfw	Lwpqvylhg

Narrow-Moat Bio-Techne Reports Stellar End to 2020, Raising Fair Value Estimate to $215

Aaron Degagne

Feb 2, 2021

Narrow-Moat Bio-Techne reported another very strong quarter, with year-over-year sales growth accelerating to over 20% and adjusted EPS increasing to $1.68 from $1.02 in the year-ago period. We are increasing our fair value estimate to $215 per share, up from $200, on the outperformance and management’s optimistic comments about the year ahead. We share the market’s positive view of earnings, with shares up over 10% in trading, in line with our fair value estimate increase. Still, shares remain significantly overvalued, in our view.

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