Nomura Securities Maintains a 'Buy' on Mindray Medical (MR) After Meeting with CFO

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Nomura Securities maintains a 'Buy' on Mindray Medical (NYSE: MR) price target of $34.00.

Analyst, Gideon Lo, said, "Takeaways from company visit. 1) MR has maintained their full-year sales growth target of 18%+; 2) EU market is currently a negative growth market in general, but their sales are mainly to the relatively stable markets of the UK, Germany and France; 3) North America market – solid growth outlook despite increased competition; 4) China markets – still promising outlook with 20%+ y-y sales growth; 5) M&A strategy – focusing on R&D upgrade; 6) Maintain a firm core earnings growth target, but faces tax benefit uncertainty."

For an analyst ratings summary and ratings history on Mindray Medical click here. For more ratings news on Mindray Medical click here.

Shares of Mindray Medical closed at $28.59 yesterday, with a 52 week range of $21.25-$34.07.

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