UPDATE: Benchmark Company Reiterates Buy Rating, Raises PT on OSI Systems

In a report published Wednesday, Benchmark Company reiterated its Buy rating on OSI Systems OSIS, and raised its price target to $85.00. Benchmark noted, “OSI Systems is scheduled to report its Q1FY13 results on Tuesday, October 23. The conference call is at 12PM EDT. We expect OSI to report an in-line or better quarter and think upside could come from lower than expected Mexico start-up costs as well as additional revenue contribution from the almost fully operational Puerto Rico fee-per-scan program. Our Q1 sales and EPS estimates are $176 million and $0.35 vs. consensus estimates of $182 million and $0.29; our estimates assume 15% growth in Security, 4% growth in Healthcare, and 5% growth in Optoelectronics, with an operating margin of 7%. Announced bookings in the quarter were $18 million.” OSI Systems closed on Tuesday at $77.79.