Merrill reiterates PerkinElmer at buy

PerkinElmer, Inc. was reiterated by Merrill Lynch analyst Darryl Pardi at a buy with a $26 price objective. Merrill sees a weakness in the shares as a result of slower-than-expected organic revenue growth of 2% in the first quarter. The analyst had forecasted a growth rate of 4%. The weakness should be considered a buying opportunity. Merrill now forecasts 2006 earnings per share of $1.22 including options. Shares of the Wellesley, Mass., pharmaceutical products company were down 58 cents, or 2.63%, at $21.44 on volume of 1,484,900 shares versus the three-month running average of 780,549 shares. (NYSE: PKI)

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