Wells Fargo initiated coverage of OSI Systems (OSIS) with an Overweight rating and $170 price target. The company holds a “unique position in a growing market where competitors have lost focus, with multiple ways for margins to move higher,” the analyst tells investors in a research note. The firm says OSI’s security segment, which represents 80% of profits, has gained share in recent years. It expects this to continue as peers Smiths Group and Leidos (LDOS) focus on other areas. Wells sees a structural growth story in security equipment.
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