Canaccord Genuity Maintains a 'Buy' on Alere (ALR); Q2 Preview: Looking for Clarity
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: 13 | Down: 14 | New: 11
Rating Summary:
6 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Canaccord Genuity maintains a 'Buy' on Alere (NYSE: ALR) price target of $30.00.
Analyst, Jeffrey Frelick, said, "We model Alere to report Q2/12 EPS of $0.47, below consensus of $0.53. We expect revenue of $622M (+10%), below consensus of $657M...We think the company’s 2012 EPS guidance of at least $2.50 set a floor and marks a “worst-case scenario.”
"We look for clarity on the financial impact of the company’s voluntary product recalls from its Biosite facility. The stock dropped nearly 30% in the wake of this news flow. We believe it remains difficult to quantify the impact of the investigation. In addition, we think organic growth rate of its Professional Diagnostic unit should be trending into high single-digits."
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 $19.00 yesterday.
Analyst, Jeffrey Frelick, said, "We model Alere to report Q2/12 EPS of $0.47, below consensus of $0.53. We expect revenue of $622M (+10%), below consensus of $657M...We think the company’s 2012 EPS guidance of at least $2.50 set a floor and marks a “worst-case scenario.”
"We look for clarity on the financial impact of the company’s voluntary product recalls from its Biosite facility. The stock dropped nearly 30% in the wake of this news flow. We believe it remains difficult to quantify the impact of the investigation. In addition, we think organic growth rate of its Professional Diagnostic unit should be trending into high single-digits."
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 $19.00 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Piper Sandler Reiterates Overweight Rating on Estee Lauder (EL), 'F4Q26 Preview'
- UBS Reiterates Buy Rating on HF Sinclair (DINO)
- Powell Industries (POWL) PT Lowered to $235 at Cantor Fitzgerald
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS ViewRelated Entities
Canaccord GenuitySign 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!
