UPDATE: Jefferies Initiates Coverage on Haemonetics Corporation with Buy Rating, $48 PT as Stock is Still Dominating Blood Solutions

In a report published Tuesday, Jefferies analyst Anthony Petrone initiated coverage on

with a Buy rating and $48.00 price target. In the report, Jefferies noted, “Haemonetics is the only pure-play blood management solutions provider, an area of increasing focus for hospitals and blood banks struggling to contain costs. Solid positioning in plasma, whole blood share gains, and growing hospital base support mid-single organic growth; when coupled with cost initiatives we see sustainable double-digit earnings over the medium-term. We rate the shares Buy with a $48 PT.” Haemonetics Corporation closed on Monday at $41.35.