Canaccord Genuity Maintains a 'Buy' on Medifast (MED); Direct Selling Momentum Lost

Canaccord Genuity maintains a 'Buy' on Medifast (NYSE: MED) price target lowered from $25 to $16.

Canaccord analyst, Scott Van Winkle, said, "Medifast is in the midst of a multi-channel expansion phase with a highly efficient business model and ample growth avenues...Take Shape for Life health coach totals were flat with Q2 at 10,300 and this soft leading indicator leads us to lower F2011 rev/EPS to $297.4M/$1.37 from $301.5M/$1.45 and F2012 to $319.6M/$1.40 from $351.6M/$1.70."

For more ratings news on Medifast click here and for the rating history of Medifast click here.

Shares of Medifast closed at $15.35 yesterday.

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