Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

ING Barings Ups MiniMed Rating to Strong Buy


ING Barings upgraded its investment rating on medical device maker MiniMed > (MNMD) to strong buy from buy due to valuation, adding that the stock dropped after a pre-announcement that was already affecting the stock.

Analyst Kevin Kotler said MiniMed can grow its bottom line at about 40% and has a pre-eminent franchise. By applying 1 times to his growth rate forecast, Kotler arrives at a $42 price target. Given the company's dominant position in insulin pumps, he's optimistic about prospects going forward.

Kotler sees fourth quarter earnings per share at $0.17 on sales of $91 million to $92 million. However, he lowered his 2001 and 2002 estimates since the company is focused on getting a product to the market. He cut his EPS to $0.74, from $0.83 for 2001 and cut EPS to $1.04, from $1.18 in 2002.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus