UPDATE: Oppenheimer Upgrades OSI Systems (OSIS) to Outperform, TSA Issue a "Tempest in a Teapot"

November 16, 2012 6:51 AM EST
Get Alerts OSIS Hot Sheet
Price: $72.36 --0%

Rating Summary:
    6 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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(Updated - November 16, 2012 8:47 AM EST)

Oppenheimer upgraded OSI Systems (NASDAQ: OSIS) from Perform to Outperform with a price target of $72.00.

The firm comments, "When we initiated coverage of OSI in Sept. (on 9/4 at $74.10), we highlighted its impressive roster of growth opportunities. The one factor giving us pause was OSI's lofty valuation, an impediment that receded with yesterday's sell-off. As for the catalyst behind OSI's retrenchment, we think it's exceedingly overdone: a case of a fairly ordinary kerfuffle between OSI and TSA getting recast as a federal offense by a House subcommittee apparently intent on elevating TSA's minute operational issues into national news. We're growing convinced this is a tempest in a teapot, and that the issues between OSI and TSA will be resolved without a material impact to business fundamentals."

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

Shares of OSI Systems closed at $76.29 yesterday.

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