Neogen Corporation’s stock climbed 3.0% in pre-market trading on Tuesday after Piper Sandler upgraded the company to Overweight from Neutral and raised its price target to $14 from $13.
The upgrade followed sustained improvements in operating performance, including accelerated growth in the Food Safety segment, several consecutive quarters of expanding adjusted EBITDA margins and positive free cash flow generation. Piper Sandler also noted restored product availability, a more disciplined commercial framework and execution under a relatively new management team as key drivers for the rating change.
The company’s fiscal fourth-quarter results for 2026 reinforced the positive outlook. Neogen reported adjusted earnings per share of $0.09, beating the $0.05–$0.06 consensus estimate. Revenue totaled $225.3 million, approximately 6% above expectations.
Management provided fiscal 2027 guidance calling for revenue of $880–$885 million, which exceeded analyst projections. The outlook reflects continued momentum across its core segments and improved operational discipline.
U.S. equity futures were little changed in pre-market trading, with S&P 500 futures slightly lower and Nasdaq-100 futures modestly lower, as investors adopted a cautious stance ahead of the July Personal Consumption Expenditures inflation report and Nvidia’s earnings release.
