Needham & Company Reiterates a 'Buy' on ExamWorks Group (EXAM); Major Acquisitions Performing Well

May 10, 2012 9:14 AM EDT
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Price: $35.06 --0%

Rating Summary:
    3 Buy, 2 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
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Needham & Company reiterates a 'Buy' on ExamWorks Group (NYSE: EXAM) price target raised from $13 to $15.

Analyst, Dalton Chandler, said, "EXAM’s two major acquisitions -- MES and Premex -- have performed very well since those deals closed, in our view, but the core EXAM business has struggled for a few quarters, due in part to some events outside management control. This quarter’s results suggest those struggles may be coming to an end, and we expect to see a return to historical growth levels soon. Given the aEBITDA the company generates, we think the shares look significantly undervalued."

Needham adjusts down FY12 EPS from (0.39) to (0.45) and FY13 from (0.35) to (0.48).

For an analyst ratings summary and ratings history on ExamWorks Group click here. For more ratings news on ExamWorks Group click here.

Shares of ExamWorks Group closed at $11.57 yesterday.

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