Enzymotec (ENZY): Cutting PT On Persistent Headwind - Jefferies
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Jefferies analyst, Lawrence Alexander, reiterated his Hold rating on shares of Enzymotec (NASDAQ: ENZY) and cut his price target as persistent headwinds across the platform have weighed on growth.
The analyst believes Enzymotec will focus on improving the value capture in InFat while expanding, and controlling costs in Vaya. Near-term, however, the company remains hostage to sluggish end market demand and limited visibility until it can reinvent its value proposition and expand its Vaya portfolio.
A CEO transition in 1H17 could lead to a strategic change in 2018-2020 but for now he is cutting his price target to $7 from $8.
Shares of Enzymotec closed at $6.25 yesterday.
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