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

CE Unterburg Raises Cytyc to 'Buy'


CE Unterburg upgraded Cytyc (CYTC) to long-term buy from long-term market perform. On Monday, the company announced plans to buy Novacept.

Analyst Al Kildani tells S&P MarketScope that Novacept's sales of its NovaSure System for treating excessive menstrual bleeding grew from $8 million in 2002 to $38 million in 2003. He notes competitive advantages in procedure time and ease of use. He says management expects Novacept to add $45 million to $50 million in revenue for three quarters in 2004, and $85 million to $90 million in 2005.

He says the acquisition establishes Cytyc as a women's healthcare franchise, and beyond a pure clinical diagnostics company. Sees Novacept helping Cytyc return to 20% to 25% EPS growth.

Kildani sees EPS of 74 cents in 2004 and 85 cents in 2005. He sets a $21 to $23 price target on the stock.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus