GREY:TSTIF - Post by User
Post by
echo2on Sep 29, 2017 11:40am
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Post# 26758866
Scotia: Buy on this pullback
Scotia: Buy on this pullbackAnother reputable and conservative analysis recommends “Buy” and maintains target!
“OUR TAKE: We believe the market has likely overreacted to the update from TSO3 related to its FDA application to obtain approval for its VP4 Sterilizer to sterilize duodenoscopes. Being asked by the FDA to alter labeling and perform additional testing is not out of the ordinary and, after clarifying with management what the FDA has asked them to do in regards to testing, we believe it remains highly likely that the VP4 will receive approval to sterilize duodenoscopes, possibly as early as Q1 2018. As a result, our investment thesis remains unchanged and we would be buyers of the shares on the pullback. Maintain Sector Outperform, $4.50 price target.”