Gabelli Reiterates GB Buy Rating
March 30, 2011 9:26 AM
Gabelli has reiterated Greatbatch Inc's (NYSE: GB) Buy Rating in a recent report.
According to Gabelli, “At the company's March 24 investor day, Greatbatch provided insight into ten cardiovascular and neurostimulation projects, the first three of which have gained regulatory approval and are starting to accelerate sales growth and improve margins. As the remaining seven projects gain approval over the next three years, Greatbatch can accelerate sales growth from 2% towards 7% and increase operating margins from the current 12% to 16%. With this growth and continuing debt paydown, Greatbatch can grow earnings at a 15% rate. We continue to recommend that investors purchase Greatbatch shares.”
GB has a Buy Rating and closed yesterday at $26.07 a share.
