Jefferies Resumes Coverage on Luminex (LMNX) at Hold, Price Target $16
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Price: $8.92 -1.44%
Rating Summary:
1 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 7
Rating Summary:
1 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 7
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Jefferies is resuming coverage on shares of Luminex (NASDAQ: LMNX) with a Hold rating and $16 price target.
The firm reports that the company's partnership strategy is a challenging business model as it doesn't allow much room for margin improvements, which they state is needed for them to gain confidence in them in the long run.
Jefferies states that LMNX believes if the detection platform is successful and the DHS agrees to a full rate production contract, it could lead to 2,000+ unit placements over the next 4-5 years with nearly 7MM xMAP tests run annually on these platforms. The firm comments that, "while we believe LMNX/NOC have an excellent chance of winning the DHS's contract, we await an update on the progress of the LMNX-based detection platform."
The company has a strong pipeline, and Jefferies anticipates on seeing were the company will go from here.
For more ratings news on Luminex click here and for the rating history of Luminex click here.
Shares of Luminex closed at $18.57 yesterday.
The firm reports that the company's partnership strategy is a challenging business model as it doesn't allow much room for margin improvements, which they state is needed for them to gain confidence in them in the long run.
Jefferies states that LMNX believes if the detection platform is successful and the DHS agrees to a full rate production contract, it could lead to 2,000+ unit placements over the next 4-5 years with nearly 7MM xMAP tests run annually on these platforms. The firm comments that, "while we believe LMNX/NOC have an excellent chance of winning the DHS's contract, we await an update on the progress of the LMNX-based detection platform."
The company has a strong pipeline, and Jefferies anticipates on seeing were the company will go from here.
For more ratings news on Luminex click here and for the rating history of Luminex click here.
Shares of Luminex closed at $18.57 yesterday.
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