AMRI Meets Q4 Expectations, Visibility Remains Limited

Analysts at Jefferies & Co maintain their "hold" rating on Albany Molecular Research (NASDAQ: AMRI), while reducing their estimates for the company. The target price for AMRI is set to $8.

Molecular Research reported its Q4 results marginally ahead of the estimates. AMRI's revenue guidance for Q1 depends on a substantial up-tick in 2H10. Although AMRI points to early positive signals, visibility is still limited, the analysts say.

“We think AMRI is likely to be range bound in the $8-$9 range until the core business shows sustainable improvement and profitability… If management is right and demand improves in 2010, that will certainly help that outlook,” the analysts add. Jefferies & Co has reduced its EPS estimate for FY10 from $0.08 to $0.06.

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