Kaufman Bros. Upgrades Cyberonics (CYBX) to Buy; Things Are Balancing Out
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Price: $69.95 --0%
Rating Summary:
6 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
6 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Kaufman Bros. upgraded Cyberonics (NASDAQ: CYBX) from Hold to Buy, price target raised from $32 to $38.
Kaufman analyst says, "We are increasing our price target to $38 (from $28) on CYBX shares mainly due to multiple expansion and as we roll forward our price target to our CY2013 EPS estimate. While the stock’s premium valuation and multiple has historically kept us as bay vis-à-vis limited cushion on potential de novo implant rate slowdown with Potiga launched in the U.S. in 1Q12, as well as European/international market challenges, we now balance these concerns with: 1) a Potiga U.S. rollout that is still early in its cycle; 2) a likely 1Q12 catalyst with the FDA potentially clearing AspireHC PMA-S; 3) management’s steadfast and confident growth outlook; and 4) an active share repurchase program."
For an analyst ratings summary and ratings history on Cyberonics click here. For more ratings news on Cyberonics click here.
Shares of Cyberonics closed at $33.50 yesterday.
Kaufman analyst says, "We are increasing our price target to $38 (from $28) on CYBX shares mainly due to multiple expansion and as we roll forward our price target to our CY2013 EPS estimate. While the stock’s premium valuation and multiple has historically kept us as bay vis-à-vis limited cushion on potential de novo implant rate slowdown with Potiga launched in the U.S. in 1Q12, as well as European/international market challenges, we now balance these concerns with: 1) a Potiga U.S. rollout that is still early in its cycle; 2) a likely 1Q12 catalyst with the FDA potentially clearing AspireHC PMA-S; 3) management’s steadfast and confident growth outlook; and 4) an active share repurchase program."
For an analyst ratings summary and ratings history on Cyberonics click here. For more ratings news on Cyberonics click here.
Shares of Cyberonics closed at $33.50 yesterday.
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