Canaccord Genuity Raises Price Target on Abaxis Inc. (ABAX); Vet Performing Well
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Price: $45.35 -0.22%
Rating Summary:
3 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
3 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade ABAX Now!
Canaccord Genuity reiterates a 'Hold' on Abaxis Inc. (NASDAQ: ABAX) price target of $35.00 (from $28.00).
Analyst, Jeffrey Frelick, said, "The FQ1 beat was driven by strong growth in vet and medical revenues of $32.5M (+17%) and $8.4M (+18%), respectively. Medical was boosted by its new CRO Piccolo business of $1.6M. Ex-this order, medical revenues declined 6% Y/Y...Vet revenues performing well...Ramping sales force ahead of distributor decision."
"ABAX reported a solid FQ1/13 with revs of $42M (+17%) that topped our $39M (+9%) and the Street’s $40.4M. While ABAX is demonstrating strong momentum, we maintain our HOLD on principles of valuation."
For an analyst ratings summary and ratings history on Abaxis Inc. click here. For more ratings news on Abaxis Inc. click here.
Shares of Abaxis Inc. closed at $36.87 yesterday, with a 52 week range of $19.68-$40.58.
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Analyst, Jeffrey Frelick, said, "The FQ1 beat was driven by strong growth in vet and medical revenues of $32.5M (+17%) and $8.4M (+18%), respectively. Medical was boosted by its new CRO Piccolo business of $1.6M. Ex-this order, medical revenues declined 6% Y/Y...Vet revenues performing well...Ramping sales force ahead of distributor decision."
"ABAX reported a solid FQ1/13 with revs of $42M (+17%) that topped our $39M (+9%) and the Street’s $40.4M. While ABAX is demonstrating strong momentum, we maintain our HOLD on principles of valuation."
For an analyst ratings summary and ratings history on Abaxis Inc. click here. For more ratings news on Abaxis Inc. click here.
Shares of Abaxis Inc. closed at $36.87 yesterday, with a 52 week range of $19.68-$40.58.
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