Shares Of OSI Systems Reach New 52-Week High
January 08, 2010 2:20 PM
Shares of OSI Systems Inc. (NASDAQ: OSIS) continue to surge higher Friday after an analyst upgrade. Roth upgraded the company, which is the parent of body-scan maker Rapiscan Systems, after it received a 10-year contract for a cargo turn-key scanning solution by the Puerto Rico Ports Authority. Roth views this as a substantial opportunity with attractive near-term contributions to earnings. Roth raised their FY2010 EPS estimate to $1.25 and their FY2011 estimate to $1.67. Roth has a price target of $35 on OSI Systems.
OSI Systems has benefitted from renewed interest in airport security after the failed Christmas Day airline bomb attempt. The Obama administration said on Thursday evening that it plans to make greater use of full-body scanners at airports, such as those Rapiscan manufacturers. Shares of OSI Systems are soaring on Friday, up more than 10% after touching a new 52-week high of $32.43 in afternoon trading.
