UPDATE: Benchmark Initiates Haemonetics Corporation at Buy on Organic Growth

Benchmark initiated its coverage on Haemonetics Corporation

with a Buy rating and a price target of $89 a share. Benchmark commented, "Haemonetics is positioned to leverage a stable base of mid-single digit organic revenue growth in its blood products management businesses. Organic growth in these core businesses is driven by demographics, emerging market expansion and the proliferation of pharmaceutical applications for plasma that involve rare diseases, such as hemophilia." Haemonetics Corporation closed at $77.58 on Wednesday.