Canaccord Genuity Maintains a 'Buy' on Alere (ALR); Q2 Preview: Looking for Clarity
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Price: $25.19 -1.52%
Rating Summary:
4 Buy, 7 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
4 Buy, 7 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade ALR Now!
Canaccord Genuity maintains a 'Buy' on Alere (NYSE: ALR) price target of $30.00.
Analyst, Jeffrey Frelick, said, "We model Alere to report Q2/12 EPS of $0.47, below consensus of $0.53. We expect revenue of $622M (+10%), below consensus of $657M...We think the company’s 2012 EPS guidance of at least $2.50 set a floor and marks a “worst-case scenario.”
"We look for clarity on the financial impact of the company’s voluntary product recalls from its Biosite facility. The stock dropped nearly 30% in the wake of this news flow. We believe it remains difficult to quantify the impact of the investigation. In addition, we think organic growth rate of its Professional Diagnostic unit should be trending into high single-digits."
For an analyst ratings summary and ratings history on Alere click here. For more ratings news on Alere click here.
Shares of Alere closed at $19.00 yesterday, with a 52 week range of $17.62-$37.68.
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Analyst, Jeffrey Frelick, said, "We model Alere to report Q2/12 EPS of $0.47, below consensus of $0.53. We expect revenue of $622M (+10%), below consensus of $657M...We think the company’s 2012 EPS guidance of at least $2.50 set a floor and marks a “worst-case scenario.”
"We look for clarity on the financial impact of the company’s voluntary product recalls from its Biosite facility. The stock dropped nearly 30% in the wake of this news flow. We believe it remains difficult to quantify the impact of the investigation. In addition, we think organic growth rate of its Professional Diagnostic unit should be trending into high single-digits."
For an analyst ratings summary and ratings history on Alere click here. For more ratings news on Alere click here.
Shares of Alere closed at $19.00 yesterday, with a 52 week range of $17.62-$37.68.
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