Benchmark Raises Price Target on RTI Biologics (RTIX), Starting to Become a Growth Stroy
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Price: $3.14 --0%
Rating Summary:
5 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 5 | New: 17
Rating Summary:
5 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 5 | New: 17
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Benchmark is reiterating its Buy rating on shares of RTI Biologics (NASDAQ: RTIX) and is raising its price target from $4 to $4.50 following strong earnings.
The company reported Q3 results ahead of expectations as both sales and earnings beat. The firm noted that RTIX is becoming a growth story due to the anticipated launch of MAPC in the second half of 2012.
Management raised its 2011 revenue guidance from $164-$166 million to $166-$167 million and its EPS estimate from $0.12-$0.14 to $0.14. For the fourth quarter, the company is forecasting EPS of $0.03 on $40-$41 million in sales.
An analyst at Benchmark comments, "We believe this reflects a commendable effort to maintain a conservative outlook given the difficult macro environment and unpredictable nature of shipments to third party distributors. If managed successfully, we are hopeful that RTI’s cautious approach may lead to additional upside surprises. In addition to continued execution and the MAPC launch in mid-2012, long term valuation catalysts could include accelerating Dental and Sports Medicine growth when the economy improves."
For 2011, the firm estimates EPS of $0.15 on $168.8 million in revenue. For 2012, Benchmark forecasts EPS of $0.19 on $175.5 million in sales.
For more ratings news on RTI Biologics click here and for the rating history of RTI Biologics click here.
Shares of RTI Biologics closed at $4.20 yesterday.
The company reported Q3 results ahead of expectations as both sales and earnings beat. The firm noted that RTIX is becoming a growth story due to the anticipated launch of MAPC in the second half of 2012.
Management raised its 2011 revenue guidance from $164-$166 million to $166-$167 million and its EPS estimate from $0.12-$0.14 to $0.14. For the fourth quarter, the company is forecasting EPS of $0.03 on $40-$41 million in sales.
An analyst at Benchmark comments, "We believe this reflects a commendable effort to maintain a conservative outlook given the difficult macro environment and unpredictable nature of shipments to third party distributors. If managed successfully, we are hopeful that RTI’s cautious approach may lead to additional upside surprises. In addition to continued execution and the MAPC launch in mid-2012, long term valuation catalysts could include accelerating Dental and Sports Medicine growth when the economy improves."
For 2011, the firm estimates EPS of $0.15 on $168.8 million in revenue. For 2012, Benchmark forecasts EPS of $0.19 on $175.5 million in sales.
For more ratings news on RTI Biologics click here and for the rating history of RTI Biologics click here.
Shares of RTI Biologics closed at $4.20 yesterday.
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