UPDATE: UBS Starts PSS World Medical (PSSI) at Buy; Get Past Tough Flu Comps; Shares Look Undervalued

(Updated - May 21, 2012 11:04 AM EDT)

UBS initiates coverage on PSS World Medical (NASDAQ: PSSI) with a Buy. PT $26.00.

Analyst, Steven Valiquette, said, "PSSI is on track to be a virtual pure-play physician office medical distributor following the announcement to divest its slower-growth nursing home (SNF) distribution business. Once the EPS base is “reset,” PSSI should generate faster EPS growth over the next few years. Our FY13e $1.15 EPS is below Street, but our $1.55 for FY14e is above revised views as the company will likely use proceeds from asset sales for M&A."

For an analyst ratings summary and ratings history on PSS World Medical click here. For more ratings news on PSS World Medical click here.

Shares of PSS World Medical closed at $18.91 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• ICICI Securities Resumes Oberoi Realty Ltd (OBER:IN) at Buy (1)
• BMO Capital Starts Energy Fuels (UUUU) at Outperform
• UBS Starts Schrodinger (SDGR) at Neutral