In a report published Friday, Imperial Capital analyst Mitchell B. Pinheiro initiated coverage on Medifast MED with an Outperform rating and $30.00 price target.
In the report, Imperial Capital noted, “We are initiating coverage of Medifast, Inc. (MED) with an Outperform rating and a one-year price target of $30, about 16% above the recent closing price of the shares. Medifast has been the best performing company in the commercial weight loss sector, driven by steady revenue gains and margin improvement, a result of its multi-channel distribution model, vertical integration and improving brand awareness. Weaker than expected 1H13 earnings has the stock trading at the low end of its historical range providing an attractive entry point for long-term investors.”
Medifast closed on Thursday at $25.77.
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