Roth Capital Maintains Bullish Stance On Neogen, $53 PT
In a research report issued today, Roth Capital analyst Anton Brenner maintained a Buy rating on Neogen (NASDAQ:NEOG) with a price target of $53.
Brenner commented: “Neogen is the global leader in food and animal safety test kit diagnostic equipment, which, we believe, should remain a fast-growing category. Sales are increasing rapidly, especially in international developing markets as consumers demand safer and better quality food. We expect that profit margins should expand over the longer term as the higher margin Food Safety segment grows more rapidly than Animal Safety, which we expect should result in 20% + sustained earnings growth.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Anton Brenner has a total average return of 7.5% and a 46.4% success rate. Brenner has a -1.0% average return when recommending NEOG, and is ranked #990 out of 3295 analysts.