ZELTIQ Aesthetics (ZLTQ): One Step Closer To Stable EPS Growth - Stifel
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Stifel analyst, Jonathan Block, reiterated his Buy rating on shares of ZELTIQ Aesthetics (NASDAQ: ZLTQ) and raised the price target to $52 from $38. The analyst increased 2017 adjusted EBITDA margin 360 basis points (from 7.9% to 11.5%) while he expects the company to continue to spend on DTC and earmark more dollars internationally.
The combination of continued revenue growth (recurring revenue to total 70% of 2018 sales), margin expansion, and tax planning (Ireland manufacturing) sets the stage for ZELTIQ’s evolution into a sustainable EPS growth company with 2019 GAAP EPS of $1.53 (2019 cash EPS of $2.10).
Shares of ZELTIQ Aesthetics closed at $38.97 yesterday.
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