Dougherty & Co Starts Bio-Reference Laboratories (BRLI) at Buy; Expect Continued Investment In Innovation To Yield Solid Growth

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Dougherty & Co initiates coverage on Bio-Reference Laboratories (NASDAQ: BRLI) with a Buy. PT $31.

Dougherty analyst says, "BRLI has shown earnings at a 20% compound annual growth rate for more than 17 years. We believe this can continue going forward...BRLI appears more focused on driving solid long-term performance than on goosing its stock with more of a short-term approach. We believe this is appropriate and are quite confident that patient, GARP-oriented investors will be well-rewarded from a position in these shares...Our forecasts are generally in line with the limited guidance provided by the company and are modestly below the current street consensus (fiscal 2011 revenue/EPS of $536.0 million/$1.13 and fiscal 2012 revenue/EPS of $613.1 million/$1.36."

For more ratings news on Bio-Reference Laboratories click here and for the rating history of Bio-Reference Laboratories click here.

Shares of Bio-Reference Laboratories closed at $23.12 yesterday, with a 52 week range of $15.42-$48.00.

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