Leerink Swann Upgrades Alere (ALR) to Outperform; Clean Beat, Continued Upside Potential
Tweet
Share
E-mailGet Alerts ALR Hot Sheet
Price: $1.32 --0%
Rating Summary:
6 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
6 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Leerink Swann upgraded Alere (NYSE: ALR) from Market Perform to Outperform, valuation range increased to $28-30.
Analyst, Dan Leonard, said, "We are upgrading ALR following its 1Q results. The three primary reasons for the upgrade are: 1) we increasingly feel comfortable with some upside to 2012 Street EPS projections, 2) the company’s articulated commitment to resolve the Health Management overhang on its business, and 3) a positive view of recent deals (specifically, Axis-Shield and eScreen). We believe these considerations justify an increase in our EBITDA multiple by a half turn, and have thus increased our valuation to a range of $28 - $30. That, combined with the recent decline in the shares, provides attractive upside (~25% to upper end of range), in our view."
Raising FY12 EPS estimate from $2.58 to $2.75 and FY13 from $2.64 to $2.74.
For an analyst ratings summary and ratings history on Alere click here. For more ratings news on Alere click here.
Shares of Alere closed at $23.89 yesterday.
Analyst, Dan Leonard, said, "We are upgrading ALR following its 1Q results. The three primary reasons for the upgrade are: 1) we increasingly feel comfortable with some upside to 2012 Street EPS projections, 2) the company’s articulated commitment to resolve the Health Management overhang on its business, and 3) a positive view of recent deals (specifically, Axis-Shield and eScreen). We believe these considerations justify an increase in our EBITDA multiple by a half turn, and have thus increased our valuation to a range of $28 - $30. That, combined with the recent decline in the shares, provides attractive upside (~25% to upper end of range), in our view."
Raising FY12 EPS estimate from $2.58 to $2.75 and FY13 from $2.64 to $2.74.
For an analyst ratings summary and ratings history on Alere click here. For more ratings news on Alere click here.
Shares of Alere closed at $23.89 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Mizuho Reiterates Outperform Rating on Broadcom Limited (AVGO) Into EPS
- Keefe, Bruyette & Woods Resumes Royal Bank of Canada (RY:CN) (RY) at Market Perform
- DA Davidson Starts Everus (ECG) at Buy
Create E-mail Alert Related Categories
Analyst EPS Change, Analyst EPS View, 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!
