UPDATE: Barrington Research Assumes Coverage On Haemonetics On Positive Revenue Outlook

Courtesy of Benzinga.

In a report published Thursday, Barrington Research analyst Michael Petusky assumed coverage on Haemonetics Corporation (NYSE: HAE) with an Outperform rating and $46.00 price target.

In the report, Barrington Research noted, “Our price target is $46 and we arrive at our target by attaching a 11x multiple to our 2016 adjusted EBITDA estimate of $245.0 million and a 10.3x multiple to our 2017 adjusted EBITDA estimate of $262.7.0 million. We feel a 10-12x multiple range is appropriate for companies like Haemonetics whose businesses contains elements of both a devices company, as well as a healthcare services business.”

Haemonetics closed on Wednesday at $36.41.

Posted-In: Barrington Research Michael PetuskyAnalyst Color Initiation Analyst Ratings