Canaccord Genuity Maintains a 'Hold' on Medifast (MED); Management Change At The Top, Probably More To Come
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Price: $11.69 +3.54%
Rating Summary:
4 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 9 | New: 13
Rating Summary:
4 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 9 | New: 13
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Canaccord Genuity maintains a 'Hold' on Medifast (NYSE: MED) price target of $16.00.
Analyst, Scott Van Winkle, said, "The new CEO (Current Chairman) has ample executive leadership experience and we do not see the change as a negative for MED. However, we expect further management changes could be likely...We maintain our rating and expect Q4 results will again fall short of consensus; we look for a resetting of F2012 forecasts as we do not believe that the consensus estimates respect the high level of investments in the clinic operation slated over the next 12 to 18 months."
For an analyst ratings summary and ratings history on Medifast click here. For more ratings news on Medifast click here.
Shares of Medifast closed at $16.10 yesterday.
Analyst, Scott Van Winkle, said, "The new CEO (Current Chairman) has ample executive leadership experience and we do not see the change as a negative for MED. However, we expect further management changes could be likely...We maintain our rating and expect Q4 results will again fall short of consensus; we look for a resetting of F2012 forecasts as we do not believe that the consensus estimates respect the high level of investments in the clinic operation slated over the next 12 to 18 months."
For an analyst ratings summary and ratings history on Medifast click here. For more ratings news on Medifast click here.
Shares of Medifast closed at $16.10 yesterday.
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