Form 8-K NEOGEN CORP For: Sep 21

Go back to Form 8-K NEOGEN CORP For: Sep 21

Roth Affirms Neogen (NEOG) at 'Buy'; Developing Market Efforts Should Outpace FX Issues

September 23, 2015 6:58 AM EDT

Roth Capital affirms its Buy rating and $65 price target on Neogen Corp. (Nasdaq: NEOG) following recent Q1 results.

Analyst Anton Brenner noted the following key points:

Revenues in Q11 rose 10.7% to $74.9 million, slightly below our $75.5 million estimate. The negative impact of the stronger dollar on revenues was $2.2 million in Q1. EPS equaled $0.25 vs. $0.24, below our $0.27 estimate. Currency translation reduced EPS in the period by $0.02.All of the currencies in which NEOG operates declined in Q1: the Brazilian Real -32%, the Euro -18%, the Mexican peso -18%... More