Canaccord Genuity Reiterates a 'Buy' on Hi Tech Pharmacal (HITK); Highlights From Meeting with CEO/CFO
Tweet
Share
E-mailGet Alerts HITK Hot Sheet
Price: $43.49 --0%
Rating Summary:
1 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
1 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Canaccord Genuity reiterates a 'Buy' on Hi Tech Pharmacal (NASDAQ: HITK) price target of $45.00.
Analyst, Randall Stanicky, said, "We hosted both CEO David Seltzer and CFO Bill Peters of Hi-Tech Pharmacal at our annual growth conference today, and this follows our management meetings in NY last week. We believe investor interest in the name has picked up for three broad reasons: 1) solid organic growth opportunities funded through R&D potentially misunderstood by the Street; 2) almost ~$90 million in cash with no debt, or close to ~20% of the equity cap; and 3) a high-barrier core asset base that is trading at historically low valuations at ~4.6x EV/EBITDA on fiscal 2014E. At our conference, our fundamental view of the business was reinforced as HITK plays in high-barrier, niche markets that should see support over the next 6-12 months as business development becomes a growing focus for use of cash."
For an analyst ratings summary and ratings history on Hi Tech Pharmacal click here. For more ratings news on Hi Tech Pharmacal click here.
Shares of Hi Tech Pharmacal closed at $34.55 yesterday.
Analyst, Randall Stanicky, said, "We hosted both CEO David Seltzer and CFO Bill Peters of Hi-Tech Pharmacal at our annual growth conference today, and this follows our management meetings in NY last week. We believe investor interest in the name has picked up for three broad reasons: 1) solid organic growth opportunities funded through R&D potentially misunderstood by the Street; 2) almost ~$90 million in cash with no debt, or close to ~20% of the equity cap; and 3) a high-barrier core asset base that is trading at historically low valuations at ~4.6x EV/EBITDA on fiscal 2014E. At our conference, our fundamental view of the business was reinforced as HITK plays in high-barrier, niche markets that should see support over the next 6-12 months as business development becomes a growing focus for use of cash."
For an analyst ratings summary and ratings history on Hi Tech Pharmacal click here. For more ratings news on Hi Tech Pharmacal click here.
Shares of Hi Tech Pharmacal closed at $34.55 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Viking Holdings (VIK) PT Raised to $82 at Mizuho
- Benchmark Reiterates Buy Rating on NVIDIA (NVDA), Updates Estimates
- DA Davidson Reiterates Buy Rating on Box, Inc. (BOX) on Secular Tailwinds for Demand
Create E-mail Alert Related Categories
Analyst CommentsRelated 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!
