Canaccord Genuity Maintains a 'Hold' on Medifast (MED); Opportunity in Mexico

Canaccord Genuity maintains a 'Hold' on Medifast (NYSE: MED) price target of $19.00.

Analyst, Scott Van Winkle, said, "We maintain our rating as we look for visibility on health coach trends in the Take Shape for Life channel and for earnings pressure from the clinic expansion to subside...Announces partnership with Productos Medix establishing Medix as the exclusive distributor of Medifast products and programs in Mexico...The deal is low risk, requires no capital and is entirely incremental. We view the deal favorably."

However, Van Winkle doesn't think the deal will positive affect earnings outlook until at least 2012...maintains current estimates.

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 $18.86 yesterday.

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