Piper Jaffray Assumes Animal Health International (AHII) with a Buy
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- Piper Jaffray Assumes Animal Health International (AHII) with a Buy
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Piper Jaffray assumes coverage on Animal Health International (NASDAQ: AHII) with a Buy rating and a $10 price target. Piper Jaffray believes the company is well positioned to gain share in the growing market for veterinary supplies.
The firm said, "We believe that investor expectations are set low with shares trading at 11x our FY09 estimate, offering long-term buyers an attractive entry point into the Animal Health International story. Recent industry data points to an improvement in the production animal industry over the late summer and early fall, boding well for Animal Health International results."
Animal Health International is a leading distributor of animal health supplies for the production and companion animal markets.
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