UPDATE - Canaccord Genuity Upgraded AngioDynamics (ANGO) to Buy; Undervalued with Positive Risk/Reward
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Price: $15.75 -0.44%
Rating Summary:
8 Buy, 6 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
8 Buy, 6 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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UPDATE - Canaccord Genuity upgraded AngioDynamics (NASDAQ: ANGO) from Hold to Buy. PT increased from $15 to $16.50.
Canaccord analyst says, "We suggest investors would enjoy a positive risk/reward by accumulating ANGO at current levels. Three major shoes have dropped recently: resignation of its CEO; loss of LC beads business; and supply chain issues in vascular. On the other hand, we think positive news will dominate the next 12 months – namely 1) NanoKnife trial enrollment and revenue ramp, 2) hiring a new CEO (our sources suggest strong demand exists for position); 3) potential tuck-in acquisitions to augment growth, and 4) potential upside to our conservatives estimates/guidance."
"We are increasing our F2012 estimates, albeit we still come in at/below the company’s initial guidance ranges on both the top and bottom lines. We believe NanoKnife and venous ablation portend the best upside potential in F2012...We now see F2012 revenue/pro forma EPS of $216M (flat Y/Y)/$0.41 from $211M (-2%)/$0.47 (-4%). For F2013 we now see $218M (+1%)/$0.46 from$212M/$0.47."
Canaccord analyst says, "We suggest investors would enjoy a positive risk/reward by accumulating ANGO at current levels. Three major shoes have dropped recently: resignation of its CEO; loss of LC beads business; and supply chain issues in vascular. On the other hand, we think positive news will dominate the next 12 months – namely 1) NanoKnife trial enrollment and revenue ramp, 2) hiring a new CEO (our sources suggest strong demand exists for position); 3) potential tuck-in acquisitions to augment growth, and 4) potential upside to our conservatives estimates/guidance."
"We are increasing our F2012 estimates, albeit we still come in at/below the company’s initial guidance ranges on both the top and bottom lines. We believe NanoKnife and venous ablation portend the best upside potential in F2012...We now see F2012 revenue/pro forma EPS of $216M (flat Y/Y)/$0.41 from $211M (-2%)/$0.47 (-4%). For F2013 we now see $218M (+1%)/$0.46 from$212M/$0.47."
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