Canaccord Genuity Maintains Hold On Medifast, $29 PT
In a research report issued today, Canaccord Genuity analyst Scott Van Winkle maintained a Hold rating on Medifast (NYSE:MED) with a price target of $29.00.
Winkle observed, “We continue to expect improved profitability corporate-wide that should support some earnings growth despite revenue declines. We expect Q3 results will begin to look a bit better than recent trends, but we continue to believe that full-year revenue guidance is unachievable.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Scott Van Winkle has a total average return of 10.9% and a 58.6% success rate. Van Winkle has a -1.8% average return when recommending MED, and is ranked #162 out of 3336 analysts.