Benchmark Upgrades eResearch Technology (ERT) to Buy on Expanding Capacity & Efficiency
Tweet
Share
E-mailGet Alerts ERT Hot Sheet
Price: $7.98 --0%
Rating Summary:
0 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
0 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Benchmark upgraded eResearch Technology (NASDAQ: ERT) to Buy with a price target of $8 (up from $6.50).
The analyst comments, "We expect continued quarterly fluctuation in ERT results but with the release of the Expert3 platform in January this year, we anticipate generally improving margins, profitability and cash flow. We believe this coincides with a general recovery in clinical trial spending, particularly in phase-I and Thorough ECG projects. We do not anticipate a recovery in the cardiac safety business trend to the pace seen prior to 2008; however, relative to the low ebb seen in 2009 and 2010, we view the current trend quite favorably."
The firm said shares are near trough levels. They increased 2012 non-GAAP EPS forecast to $0.47, from $0.40.
For an analyst ratings summary and ratings history on eResearch Technology click here. For more ratings news on eResearch Technology click here.
Shares of eResearch Technology closed at $5.56 yesterday.
The analyst comments, "We expect continued quarterly fluctuation in ERT results but with the release of the Expert3 platform in January this year, we anticipate generally improving margins, profitability and cash flow. We believe this coincides with a general recovery in clinical trial spending, particularly in phase-I and Thorough ECG projects. We do not anticipate a recovery in the cardiac safety business trend to the pace seen prior to 2008; however, relative to the low ebb seen in 2009 and 2010, we view the current trend quite favorably."
The firm said shares are near trough levels. They increased 2012 non-GAAP EPS forecast to $0.47, from $0.40.
For an analyst ratings summary and ratings history on eResearch Technology click here. For more ratings news on eResearch Technology click here.
Shares of eResearch Technology closed at $5.56 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Viking Holdings (VIK) PT Raised to $82 at Mizuho
- Flux Power Holdings (FLUX) PT Lowered to $1.60 at Roth/MKM
- Cummins (CMI) PT Lowered to $675 at Jefferies
Create E-mail Alert Related Categories
Analyst EPS Change, Analyst PT Change, UpgradesSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
