Canaccord Adams Reiterates a 'Buy' on NBTY (NTY); Raises PT

November 10, 2009 12:53 PM EST

Canaccord Adams reiterates a 'Buy' on NBTY (NYSE: NTY), raises price target from $50 to $54.

Canaccord analyst says, "The Q4 results were clearly strong, but the real conclusion in our opinion is that F2010 EPS could approach $4/share. Management gave conservative line-item guidance, but
annualizing the last two quarters post the Leiner integration would put EPS at $3.66 – and the category is still accelerating and margins are still improving. October sales were up strong, surpassing our expectation, and we expect further acceleration in total sales growth during November before running up against a tough comparison to buy-in ahead of a price increased last December...Raising F2010 forecasts to $2.8B/$3.70 from $2.7B/$3.21 and introducing F2011 forecasts of $2.9B/$4.05. Price target goes to $54 from $50...Next Catalyst: NTY should report November sales by mid-December."

To see more analyst ratings on NTY Click Here.

NBTY, Inc., together with its subsidiaries, manufactures, markets, distributes, and retails nutritional supplements in the United States and internationally.

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