DA Davidson Upgrades Omega Protein (OME) to Buy, Raises Target to $10

DA Davidson upgraded Omega Protein (NYSE: OME) shares from Underperform to Buy and boosted price target from $6 to $10.

The firm said the recent dip in the stock "has nearly discounted the poor margins and EPS expected in 2012..." "Reduced risk of a poor fishing season..." was also cited.

DA Davidson's FY12 EPS estimate was raised from $0.50 to $0.65 and the FY13 estimate was lifted from $0.55 to $0.75. The analyst consensus estimates currently sit at $0.53 for FY12 and at $0.59 for FY13.

With Omega shares up 1.4 percent to $6.54 at last check, DA Davidson's new price target represents potential upside of about 53 percent.

For an analyst ratings summary and ratings history on Omega Protein click here. For more ratings news on Omega Protein click here.

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