Barrington Research Maintains SurModics Outperform
Barrington Research maintains its Outperform rating and $18 price target on SurModics (NASDAQ: SRDX) in a research report out today on the heels of 1Q 2012 revenues for SurModics that fell just short of 1Q 2011 revenues.
In the report, Barrington Research writes, "We are maintaining our OUTPERFORM rating and $18 target as we believe SRDX has an opportunity to buy back close to 40% of the market cap and create an appropriate capital base from which it can generate sustainable return that can provide an expectation for growth."
Shares of SurModics are currently trading at $13.85, down 2.88% from Friday's market close.
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