UPDATE: Canaccord Genuity Reiterates Buy Rating, Lowers PT on Nordion

In a report published Friday, Canaccord Genuity reiterated its Buy rating on Nordion

, but slightly lowered its price target from $13.50 to $13.00. Canaccord noted, “Nordion announced Q3 financial results that were generally in line with our estimates. A solid rebound for both the Sterilization Technologies and Targeted Therapies segments demonstrated the resiliency of these two businesses; however, this was offset by weakness in Nordion's Medical Isotopes segment. The updated outlook for this segment suggested continued headwinds as existing customers look to diversify supply. To remain conservative, we have lowered our revenue projections for NRU-generated reactor isotopes through 2016. Nonetheless, despite these concerns, we believe that investor focus is now firmly on the AECL arbitration decision expected Monday.” Nordion closed on Thursday at $10.69.