Kaufman Bros. Starts Cyberonics (CYBX) at Hold, Sets Price Target at $28
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Price: $69.95 --0%
Rating Summary:
6 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
6 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Kaufman Bros. initiates coverage on shares of Cyberonics (NASDAQ: CYBX) with a Hold rating and $28 price target.
Management did a great job turning around its European sales and marketing and continues to show solid execution. The firm is anticipating a more stable performance from Europe in the first quarter of 2012. Kaufman believes that the the company will benefit from "some low hanging fruit" during the first quarter and will concentrate on improving sales.
The firm notes that healthcare headwinds may slow annual price increases and extend conversions to adjunctive eplilepsy VNS therapy. Kaufman's belief is based on the fact that 25 percent of the revenue is from Medicare and 15 percent is medicaid in the U.S.
Kaufman states that shares of CYBX are currently trading inline with their valuation. For 2011 and 2012, the firm estimates EPS of $1.21 and $1.49. Revenue for the two years is forecasted to be $216 million and $243 million.
For more ratings news on Cyberonics click here and for the rating history of Cyberonics click here.
Shares of Cyberonics closed at $27.00 yesterday.
Management did a great job turning around its European sales and marketing and continues to show solid execution. The firm is anticipating a more stable performance from Europe in the first quarter of 2012. Kaufman believes that the the company will benefit from "some low hanging fruit" during the first quarter and will concentrate on improving sales.
The firm notes that healthcare headwinds may slow annual price increases and extend conversions to adjunctive eplilepsy VNS therapy. Kaufman's belief is based on the fact that 25 percent of the revenue is from Medicare and 15 percent is medicaid in the U.S.
Kaufman states that shares of CYBX are currently trading inline with their valuation. For 2011 and 2012, the firm estimates EPS of $1.21 and $1.49. Revenue for the two years is forecasted to be $216 million and $243 million.
For more ratings news on Cyberonics click here and for the rating history of Cyberonics click here.
Shares of Cyberonics closed at $27.00 yesterday.
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