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

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Major Upgrades And Downgrades In Friday's Market Action
Earnings Scheduled For November 5, 2014
Be Careful Betting On More Upside At Medifast (Seeking Alpha)

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

DateFirmActionFromTo
Nov 2014Imperial CapitalDowngradesOutperformIn-line
Nov 2014Canaccord GenuityMaintainsHold
Aug 2014Imperial CapitalMaintainsOutperform

View More Analyst Ratings for MED
View the Latest Analyst Ratings

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

 

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