Canaccord Genuity Maintains a 'Buy' on Obagi Medical Products (OMPI); Q1 Strong on Easy Comp

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Canaccord Genuity maintains a 'Buy' on Obagi Medical Products (NASDAQ: OMPI) price target lowered from $22.50 to $21.00.

Analyst, William J. Plovanic, said, "We maintain our rating on Obagi following strong Q1/12 revenue results. We remain cautious given the lack of clarity into the California inquiry of HQ. Additionally, the company continues to move forward with investments in its e-commerce initiative, which will depress earnings through 2012. Given the uncertainty in California and spending on initiatives we believe 2012 is a transitional year and thus expect investors to remain cautious."

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

Shares of Obagi Medical Products closed at $12.85 yesterday, with a 52 week range of $8.61-$13.75.

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