Roth Capital Raises Price Target on Neogen Corp (NEOG) Following 4Q15 Results

Roth Capital reiterated a Buy rating on Neogen (NASDAQ: NEOG), and raised the price target to $65.00 (from $53.00), following 4Q15 results. NEOG reports revenues of $78.6M compared to $76.5M consensus. EPS equaled $0.25 compared to $0.24 consensus.

Analyst Anton Brenner commented, "Neogen is the global leader in food and animal safety test kit diagnostic equipment. We anticipate that Neogen's increasing exposure in developing markets in Asia and Latin America as consumers demand greater food safety will be a major growth driver. We anticipate that Neogen's organic revenue growth will accelerate from historical rates and profit margins will expand, justifying a premium valuation. We are raising our price target to $65."

For an analyst ratings summary and ratings history on Neogen click here. For more ratings news on Neogen click here.

Shares of Neogen closed at $58.41 yesterday.

You May Also Be Interested In

• Deutsche Bank Downgrades L'Oreal SA (OR:FP) (LRLCY) to Sell
• Range Resources (RRC) PT Lowered to $53 at Stephens
• RBC Capital Starts Centene (CNC) at Sector Perform