Wedbush Upgrades Meridian Biosciences (VIVO) to Neutral; 2Q11 Recap - Foodborne & H.Pylori Strength Balancing Illumigene Skepticism
Tweet
Share
E-mailGet Alerts VIVO Hot Sheet
Price: $4.87 +6.10%
Rating Summary:
3 Buy, 4 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 4 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Wedbush upgraded Meridian Biosciences (NASDAQ: VIVO) from Underperform to Neutral. PT increased from $18 to $22.
Wedbush analyst says, "Given the improving fundamentals, increased tolerance for higher multiples lately in diagnostics, and VIVO’s uniquely supportive base, we are upgrading the stock to NEUTRAL. Shares of VIVO continue to trade at a premium to the group on a 2011E P/E multiple basis (33x vs. the group median of 21x). On an EV/Sales basis, shares are also trading at a significant premium to the group (5.9x vs. 3.6x group median). Our new $22 12-month price target is based on a 2011 P/E multiple of 30x, which is consistent with the company’s historical multiple and reflects the 3% dividend yield as well as lower risk of a dividend cut."
For more ratings news on Meridian Biosciences click here and for the rating history of Meridian Biosciences click here.
Shares of Meridian Biosciences closed at $24.55 yesterday.
Wedbush analyst says, "Given the improving fundamentals, increased tolerance for higher multiples lately in diagnostics, and VIVO’s uniquely supportive base, we are upgrading the stock to NEUTRAL. Shares of VIVO continue to trade at a premium to the group on a 2011E P/E multiple basis (33x vs. the group median of 21x). On an EV/Sales basis, shares are also trading at a significant premium to the group (5.9x vs. 3.6x group median). Our new $22 12-month price target is based on a 2011 P/E multiple of 30x, which is consistent with the company’s historical multiple and reflects the 3% dividend yield as well as lower risk of a dividend cut."
For more ratings news on Meridian Biosciences click here and for the rating history of Meridian Biosciences click here.
Shares of Meridian Biosciences closed at $24.55 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Freedom Broker Upgrades Serve Robotics (SERV) to Buy
- Jefferies Upgrades Minerva Neurosciences (NERV) to Buy
- Wells Fargo Upgrades FOX Corp. (FOXA) to Overweight
Create E-mail Alert Related Categories
UpgradesRelated Entities
DividendSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
