Haemonetics (HAE) PT Raised to $40 at Jefferies

Jefferies analyst Anthony Petrone reiterated a Buy rating and raised his price target on Haemonetics (NYSE: HAE) to $40.00 (from $32.00) following mixed Q1 with $3mn top-line beat offset by a $0.03 EPS miss,

commented, "Underlying growth trends in Plasma and TEG were as expected and guidance was reiterated. The company announced a three-phase turnaround plan that aims to double adjusted OI and increase FCF by 4.0x over the next five years. We model 5-year estimates toward these aspirational goals and set a PT of $40 as the long awaited revamping gets underway."

The firm raised Q2 EPS from $0.32 to $0.33, FY 2017 EPS from $1.36 to $1.45 and FY 2018 EPS from $1.49 to $1.77.

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

Shares of Haemonetics closed at $33.52 yesterday.

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