Market Overview

UPDATE: Wedbush Securities Raises PT to $37 on Medifast on Growth Plan

Related MED
Medifast Announces Adoption of Rule 10b5-1 Plan by Executive Officer For Stock Trading
Earnings Scheduled For May 7, 2015

Wedbush Securities reiterated its Outperform rating on Medifast (NYSE: MED) and raised its price target from $34 to $37.

Wedbush Securities commented, "To achieve its $1 billion target, which represents a compound annual growth rate of 23%, management targets doubling domestic sales and growing international sales to $150 million. … Given Medifast's solid revenue growth, strong cash flow generation, and improving financial outlook, we believe shares of MED should trade at an EV/ 2013E EBITDA multiple of 9x, a 10% premium to the peer group average, generating our $37 PT."

Medifast closed at $21.25 on Tuesday.

Latest Ratings for MED

Oct 2015Sidoti & Co.UpgradesNeutralBuy
Mar 2015Bank of AmericaDowngradesNeutralUnderperform
Nov 2014Imperial CapitalDowngradesOutperformIn-line

View More Analyst Ratings for MED
View the Latest Analyst Ratings

Posted-In: Wedbush SecuritiesAnalyst Color Price Target Pre-Market Outlook Analyst Ratings


Related Articles (MED)

Get Benzinga's Newsletters