Canaccord Adams Reiterates a 'Buy' Rating on NBTY (NTY), Adds to Best Ideas List
NTY Hot Sheet
Rating Summary:0 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
Canaccord Adams reiterates a 'Buy' rating on NBTY (NYSE: NTY), adds to Best Ideas List; raising target to $50 from $46.
Canaccord analyst says, "We are adding NBTY to our Best ideas list due to accelerating category growth, earnings momentum and our expectation that a significant revision to investor expectations for NBTY’s current level of earnings power will drive the shares materially higher. NBTY replaces Martek Biosciences (Nasdaq: MATK) on the list."
"We anticipate upside to both sales and earnings forecasts for the Q4 ended September 30. In addition to EPS upside driven by stronger revenue, we believe that commodity prices were more favorable this quarter and thus anticipate incremental gross margin improvement should add to EPS. While we anticipate that a continuation of the earnings momentum over the last couple of quarters could drive the shares higher, we believe that a revision to 2010 forecasts will be the more important driver of the shares. We expect that investors will look to annualize the Q3 and Q4 earnings levels to derive a F2010 EPS forecast in the $3.50-4.00 range compared to the current consensus forecast of $3.17."
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.
Canaccord analyst says, "We are adding NBTY to our Best ideas list due to accelerating category growth, earnings momentum and our expectation that a significant revision to investor expectations for NBTY’s current level of earnings power will drive the shares materially higher. NBTY replaces Martek Biosciences (Nasdaq: MATK) on the list."
"We anticipate upside to both sales and earnings forecasts for the Q4 ended September 30. In addition to EPS upside driven by stronger revenue, we believe that commodity prices were more favorable this quarter and thus anticipate incremental gross margin improvement should add to EPS. While we anticipate that a continuation of the earnings momentum over the last couple of quarters could drive the shares higher, we believe that a revision to 2010 forecasts will be the more important driver of the shares. We expect that investors will look to annualize the Q3 and Q4 earnings levels to derive a F2010 EPS forecast in the $3.50-4.00 range compared to the current consensus forecast of $3.17."
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.
You May Also Be Interested In
- Barclays Lowers PT and Estimates on Royal Bank of Canada (RY); Coming Off The Bandwagon
- Barclays Reiterates an 'Equalweight' on Lexington Realty Trust (LXP); Growing Pipeline, But Waiting on Cash in 2013
- Needham & Company Reiterates a 'Buy' on UQM Technologies (UQM); Increasing EV Adoption
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Canaccord AdamsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
