Another upgrade - $3.00 price target ! 11:40 AM EDT, 07/18/2022 (MT Newswires) -- Stifel GMP on Monday reiterated its buy rating on the shares of Hamilton Thorne (HTL.V) with a C$3.00 price target following strong results from a rival in the assisted reproductive technology industry.
"Vitrolife, a close peer to Hamilton Thorne in the fertility industry, beat market expectations with Q2 results that demonstrated 18% organic growth and strong demand for IVF services globally," analyst Justin Keywood noted. "Strengthened demand was observed in the Americas (13% organic growth YoY), Asia (41%), and most notably Japan Pacific (32%), where there was uncertainty over the impact of public reimbursement policies implemented earlier in March. We view this news positively for Hamilton Thorne, which serves 75 countries worldwide, with 50% of the business residing outside of Europe. Historically, HTL has achieved higher growth than industry peers with 10-15% organic growth (vs 7% average) and has paired it with a disciplined M&A program yielding ~40% CAGR in sales over the past five years with a deep pipeline of 60-70 targets currently under consideration. We see an opportunity in a stock that is trading near 52-week lows ahead of Q2 earnings results this August."
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 1.55, Change: +0.05, Percent Change: +3.33