Intersect ENT (XENT): NDR Highlights Many Possible Drivers And Low Valuation - Piper Jaffray
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Piper Jaffray analyst, Matt O'Brien, reiterated his Overweight rating on shares of Intersect ENT (NASDAQ: XENT) after hosting management meetings. The analyst believes that the recent negative issues (sales force disruption and reimbursement) are not hurting the business much at this point. There are several growth drivers available, which collectively should yield low 20% growth on the top line over the next several years. Profitability is not imminent but XENT has plenty of cash, and likely will not need another round of financing. With a reasonable revenue multiple (3.4x ’17E sales) and an even more attractive EV/GP multiple (currently at a 37% discount to its peers) to go along with a compelling growth outlook and pipeline of products, the name should be owned at these levels.
No change to the price target of $21.
Shares of Intersect ENT closed at $15.51 yesterday.
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