UPDATE: UBS Upgrades Luminex (LMNX) to Buy; Summer Sell-off Overdone
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Price: $18.70 +1.58%
Rating Summary:
2 Buy, 5 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Rating Summary:
2 Buy, 5 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Trade LMNX Now!
(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, with a 52 week range of $16.80-$25.79.
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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, with a 52 week range of $16.80-$25.79.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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