BofA/Merrill Lynch Upgrades Abaxis Inc. (ABAX) to Neutral
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Rating Summary:
1 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 10 | New: 43
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BofA/Merrill Lynch upgraded Abaxis Inc. (NASDAQ: ABAX) from Underperform to Neutral with a price target of $48.00 (from $36.00) on expanded distribution opportunity.
Analyst Erin Wilson notes that on Friday, competitor IDEXX Laboratories (NASDAQ: IDXX) announced Friday that it will sell its veterinary diagnostic merchandise products directly to veterinarians in the US rather than through distributors, effective 1-Jan-15. The move opens up the supplier channel for ABAX, according to the analyst.
For an analyst ratings summary and ratings history on Abaxis Inc. click here. For more ratings news on Abaxis Inc. click here.
Shares of Abaxis Inc. closed at $45.88 yesterday.
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