Canaccord Genuity Q1 Preview on Abaxis Inc. (ABAX): Too Far, Too Fast
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Price: $83.00 --0%
Rating Summary:
1 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Canaccord Genuity maintains a 'Hold' on Abaxis Inc. (NASDAQ: ABAX) price target of $28.00.
Analyst, Jeffrey Frelick, said, "We expect ABAX to report June Q1//F2013 sales of $39.1M (+9%), below consensus of $40M. Our EPS estimate of $0.18 compares to consensus of $0.17."
"ABAX shares have run up significantly YTD in the wake of competitor IDEXX's (Nasdaq: IDXX) announcement it will give up one of its three exclusive national distribution agreements. While we agree this is a positive for ABAX, we think the shares have run too far, too fast."
Overall, Frelick thinks the long-term outlook is promising, but lack of clarity around near-term catalysts, valuation, and economic challenges, keeps the firm sidelined.
For an analyst ratings summary and ratings history on Abaxis Inc. click here. For more ratings news on Abaxis Inc. click here.
Shares of Abaxis Inc. closed at $38.87 yesterday.
Analyst, Jeffrey Frelick, said, "We expect ABAX to report June Q1//F2013 sales of $39.1M (+9%), below consensus of $40M. Our EPS estimate of $0.18 compares to consensus of $0.17."
"ABAX shares have run up significantly YTD in the wake of competitor IDEXX's (Nasdaq: IDXX) announcement it will give up one of its three exclusive national distribution agreements. While we agree this is a positive for ABAX, we think the shares have run too far, too fast."
Overall, Frelick thinks the long-term outlook is promising, but lack of clarity around near-term catalysts, valuation, and economic challenges, keeps the firm sidelined.
For an analyst ratings summary and ratings history on Abaxis Inc. click here. For more ratings news on Abaxis Inc. click here.
Shares of Abaxis Inc. closed at $38.87 yesterday.
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