Canaccord Genuity Maintains a 'Buy' on Imris Inc. (IMRS); Q3 Missed, but Not as Bad as Feared
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Price: $0.02 --0%
Rating Summary:
3 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 10 | New: 18
Rating Summary:
3 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 10 | New: 18
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Canaccord Genuity maintains a 'Buy' on Imris Inc. (NASDAQ: IMRS) price target lowered from $5.25 to $4.50.
Canaccord analyst, Jason R. Mills, said, "The significant revenue shortfall in Q3 will be the headline, but the quarter wasn’t as bad as many feared. IMRS faces an ultra-challenging macro end-market for med-tech CapEx, but there were some bright spots. At current market cap, the stock trades at 1x current backlog ($102M, up from $97M Q/Q) plus cash, thus has some value at these levels, let alone further pullback expected today. That said, IMRS is a “show-me” company that must deliver on continued promises of a full sales “funnel.” Our checks continue to suggest IMRS’ VISIUS Surgical theatres provide a meaningful value proposition to hospitals, so we maintain rating but lower our price target."
For an analyst ratings summary and ratings history on Imris Inc. click here. For more ratings news on Imris Inc. click here.
Shares of Imris Inc. closed at $3.20 yesterday.
Canaccord analyst, Jason R. Mills, said, "The significant revenue shortfall in Q3 will be the headline, but the quarter wasn’t as bad as many feared. IMRS faces an ultra-challenging macro end-market for med-tech CapEx, but there were some bright spots. At current market cap, the stock trades at 1x current backlog ($102M, up from $97M Q/Q) plus cash, thus has some value at these levels, let alone further pullback expected today. That said, IMRS is a “show-me” company that must deliver on continued promises of a full sales “funnel.” Our checks continue to suggest IMRS’ VISIUS Surgical theatres provide a meaningful value proposition to hospitals, so we maintain rating but lower our price target."
For an analyst ratings summary and ratings history on Imris Inc. click here. For more ratings news on Imris Inc. click here.
Shares of Imris Inc. closed at $3.20 yesterday.
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