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

August 23, 2012 8:26 AM EDT Send to a Friend
Get Alerts LMNX Hot Sheet
Price: $18.52 -2.53%

Rating Summary:
    1 Buy, 6 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 21 | Down: 36 | New: 7
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.




You May Also Be Interested In


Related Categories

Analyst PT Change, Upgrades

Related Entities

UBS

Add Your Comment