UPDATE - Barclays Initiates Coverage on MWI Veterinary Supply (MWIV) with an Equalweight; Vet Supply Chain Participant Poised for Continued Growth, Not Without Headwinds
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Price: $190.00 --0%
Rating Summary:
1 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
1 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
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UPDATE - Barclays initiates coverage on MWI Veterinary Supply (Nasdaq: MWIV) with an Equalweight. PT $72.
Barclays analyst says, "MWI has been a rapidly growing distributor in the expanding veterinary supply chain sector, exhibiting market leading growth in both the companion pet and production animal spaces."
"This said, MWI's expanded presence in the international market and in the
production animal space, while increasing its revenue opportunities, also increases its exposure to somewhat lower margin, lower return businesses, both headwinds in the medium term. Given these characteristics, we fret somewhat about the shares' right multiple, given its higher growth past and some incremental share gains with industry disruption that may be tough to replicate in the future. For now, we contend that some 18x forward EPS (of $4.00) is not unreasonable, bringing us to our $72 price target. We will look forward to spending additional time with this interesting business."
To See Ratings Summary & History on MWIV, Click Here
Barclays analyst says, "MWI has been a rapidly growing distributor in the expanding veterinary supply chain sector, exhibiting market leading growth in both the companion pet and production animal spaces."
"This said, MWI's expanded presence in the international market and in the
production animal space, while increasing its revenue opportunities, also increases its exposure to somewhat lower margin, lower return businesses, both headwinds in the medium term. Given these characteristics, we fret somewhat about the shares' right multiple, given its higher growth past and some incremental share gains with industry disruption that may be tough to replicate in the future. For now, we contend that some 18x forward EPS (of $4.00) is not unreasonable, bringing us to our $72 price target. We will look forward to spending additional time with this interesting business."
To See Ratings Summary & History on MWIV, Click Here
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