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UPDATE: Bank of America Upgrades Bio-Reference Laboratories to Buy on Margins, Cash Flow

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Bank of America upgrades its rating on Bio-Reference Laboratories (NASDAQ: BRLI) from Neutral to Buy and raises its price objective from $24 to $26.

Bank of America comments, "BRLI's returns on commercializing more high end tests in growthier specialty diagnostics niches are becoming more apparent in its income statements with EPS upside surprises in the past four quarters. On industry leading top line growth, we expect the gross profit margin to rise further on an improving esoteric testing mix. Cash flow is also improving, helped by the strengthening earnings and an improving testing and payor mix that is contributing to lower Days Sales Outstanding. Our P.O. moves to $26 (from $24) on the better trends."

BRLI closed at $21.71 on Monday.

Latest Ratings for BRLI

DateFirmActionFromTo
Dec 2013Bank of AmericaMaintainsBuy
Nov 2013Sidoti & Co.DowngradesBuyNeutral
Sep 2013Alere FinancialInitiates Coverage onBuy

View More Analyst Ratings for BRLI
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Upgrades Price Target Intraday Update Analyst Ratings

 

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