Nomura Securities on Mindray Medical (MR); Despite Near-Term Drawback, Still a 'Buy'

Nomura Securities reiterates a 'Buy' on Mindray Medical (NYSE: MR) price target of $34.00.

Nomura analyst, Gideon Lo, said, "Mindray’s share price pulled back after 3Q results, as the lower-than-expected profit margin indicates less likelihood for an upside earnings surprise for the full year. We see Mindray’s greater confidence in its 2012 growth outlook as more important than the short-term profit margin. From a mid-/long-term perspective, we like Mindray’s improved brand franchise, R&D capability and sales platform in both domestic and international markets."

For an analyst ratings summary and ratings history on Mindray Medical click here. For more ratings news on Mindray Medical click here.

Shares of Mindray Medical closed at $25.71 yesterday.

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