UPDATE: Goldman Sachs Maintains Neutral, Raises PT to $26.90 on Mindray Medical

Goldman Sachs reiterates its Neutral rating on Mindray Medical MR and raises its price target to $26.90 from $24.50 on stronger sales. Goldman Sachs says, "We raise our revenue forecasts by 1.5%/5.1%/5.5% in 2011E-2013E following Mindray's preannouncement of 2011 revenue and 2012 guidance to reflect stronger-than-expected sales growth in diagnostic and imaging segments driven by new product addition. We raise our EPS estimates by 0.4%/2.2%/ 3.3% from 2011-2013E as a result of changes to our sales forecasts. MR announced preliminary 2011 net revenue of US$878 (+25%) and expects more than 18% sales growth in 2012." MR closed at $27.98 per share on Monday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Price TargetInitiationIntraday UpdateMarketsAnalyst RatingsGoldman Sachs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!