Analyst Michael Petusky of Barrington maintained a Buy rating on Haemonetics, retaining the price target of $86.00.
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Michael Petusky has given his Buy rating due to a combination of factors that highlight Haemonetics’ potential for future growth and profitability. Despite a projected decline in overall revenue for the upcoming quarter, Petusky’s outlook remains optimistic, particularly due to the company’s strategic adjustments and expected improvements in key business segments. The hospital segment is anticipated to show positive revenue growth, and while the vascular closure business faced challenges, there are signs of recovery efforts that could stabilize this area.
Additionally, Petusky’s forecast for Haemonetics includes a strong adjusted EPS, which is higher than the consensus estimate, indicating confidence in the company’s cost management and profitability. The fiscal year guidance suggests organic growth and stable operating margins, further supporting the Buy rating. Petusky’s price target of $86 reflects a positive long-term view, based on a valuation multiple applied to expected EBITDA, and considers the company’s debt position. Overall, these factors contribute to the recommendation to maintain an OUTPERFORM rating on Haemonetics’ shares.
In another report released on October 7, Citi also maintained a Buy rating on the stock with a $64.00 price target.