Analyst Sees Neptune As Strong Buy; Increases Price Target to $9.25
(Thomson Reuters ONE) -
Shares of Neptune Technologies & Bioressources Inc. (NASDAQ.NEPT) (TSX.NTB)
traded as high as $4.88 on Wednesday but sold off with the overall markets at
the end of the day following a published research report update by Robin
Cornwell of Catalyst Research.
In the note, Cornwell increased his 12 month price target to $9.25 from
$8.75. After recent fundamental developments announced by the company, the
research firm revised their fiscal 2013 and 2014 forecasts and introduced new
fiscal 2015 projections.
"The important message for investors to understand is that each ofNeptune's
operating components has the potential to add exceptional leverage to Neptune's
valuation," wrote Cornwell.
Other reasons cited for the upgrade include :
* Solid Q1/13 performance exceeding EBITDA expectations
* Higher gross operating margin of 59% versus 54% last quarter
* Nutraceutical EBITDA was $1.3 million, up 69% Year over Year
* Confirmed new orders for Krill oil amounting to US$25 million for calendar
year 2013.
* Looking out 6 to 12 months, investors will no doubt continue to focus on
Acasti's (TSXV-APO) clinical trial results for its drug candidate CaPre(TM).
* Neptune is unique for a bio/pharma technology company in that the cash flow
from the nutraceutical operation is able to cover a substantial portion of
the research and development costs of the subsidiary companies.
* Neptune is exceptionally positioned to capture the growing global awareness
of the benefits of Krill oil over fish oils.
Source Report: http://bit.ly/NeptuneUpgrade
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Source: Equity Briefing via Thomson Reuters ONE
[HUG#1627923]
Datum: 19.07.2012 - 12:51 Uhr
Sprache: Deutsch
News-ID 166960
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