Canaccord Genuity Raises Price Target on Abaxis Inc. (ABAX); Vet Performing Well
Tweet Send to a FriendGet Alerts ABAX Hot Sheet
Price: $43.65 +0.28%
Rating Summary:
3 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
3 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade ABAX Now!
Canaccord Genuity reiterates a 'Hold' on Abaxis Inc. (NASDAQ: ABAX) price target of $35.00 (from $28.00).
Analyst, Jeffrey Frelick, said, "The FQ1 beat was driven by strong growth in vet and medical revenues of $32.5M (+17%) and $8.4M (+18%), respectively. Medical was boosted by its new CRO Piccolo business of $1.6M. Ex-this order, medical revenues declined 6% Y/Y...Vet revenues performing well...Ramping sales force ahead of distributor decision."
"ABAX reported a solid FQ1/13 with revs of $42M (+17%) that topped our $39M (+9%) and the Street’s $40.4M. While ABAX is demonstrating strong momentum, we maintain our HOLD on principles of valuation."
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 $36.87 yesterday, with a 52 week range of $19.68-$40.58.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Jeffrey Frelick, said, "The FQ1 beat was driven by strong growth in vet and medical revenues of $32.5M (+17%) and $8.4M (+18%), respectively. Medical was boosted by its new CRO Piccolo business of $1.6M. Ex-this order, medical revenues declined 6% Y/Y...Vet revenues performing well...Ramping sales force ahead of distributor decision."
"ABAX reported a solid FQ1/13 with revs of $42M (+17%) that topped our $39M (+9%) and the Street’s $40.4M. While ABAX is demonstrating strong momentum, we maintain our HOLD on principles of valuation."
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 $36.87 yesterday, with a 52 week range of $19.68-$40.58.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Jefferies Bumps Zumiez (ZUMZ) Numbers Up, But Remains on Sidelines
- Dollar Tree (DLTR) Beats But Looks Stretched - Jefferies
- UPDATE: MKM Partners Downgrades Alkermes (ALKS) to Sell
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS View, Analyst PT ChangeRelated Entities
Canaccord Genuity
Login with Facebook
Sign 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!
