JP Morgan Reiterates Pediatrix Medical as Buy

The investment bank also reiterates its $55 price target, and says recent weakness presents an attractive entry point

J.P. Morgan reiterated its buy rating and $55 price target on Pediatrix Medical (PDX ) buy rating and $55 price target. The investment bank sees third quarter earnings per share for Pediatrix in the $0.39-$0.40 range versus previous guidance $0.35-$0.37

Analyst Matthew Ripperger says the stock was down just over 14% on Monday, Oct. 8, on no news and that he doesn't think the stock weakness is warranted. He believes it represents an attractive entry point.

Ripperger remains comfortable with $1.26 2001 EPS estimate and his above-consensus $2.30 2002 EPS forecast (which includes $0.65 in non-cash amortization).

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