UPDATE: UBS Upgrades Luminex (LMNX) to Buy; Summer Sell-off Overdone

August 23, 2012 8:26 AM EDT
Get Alerts LMNX Hot Sheet
Price: $19.52 -3.65%

Rating Summary:
    2 Buy, 7 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 22 | Down: 34 | New: 34
Trade LMNX Now!
Join SI Premium – FREE
(Updated - August 23, 2012 11:13 AM EDT)

UBS upgraded Luminex (NASDAQ: LMNX) from Neutral to Buy. PT lowered from $25 to $22.

Analyst, Daniel Arias, said, "We are upgrading LMNX as we view the stock as over-sold (-13% YTD) following dilutive M&A, a negative media report on BioWatch, & competitive fears. At ~2.8x 2013 estimates (EV/sales), LMNX now trades at a discount to peers & historical levels; going forward, we see multiple expansion via execution on near-term catalysts/events – i.e. ramping GPP uptake, new assay launches, & EraGen expansion. Additionally, low NIH exposure, a high % of recurring revenues, and a focus on clinical markets make for a favorable profile amidst macro challenges."

FY12/13 EPS estimate maintaine at $0.33/$0.51, respectively.

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

Shares of Luminex closed at $18.41 yesterday.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst PT Change, Upgrades

Related Entities


Add Your Comment