Roth Capital Reiterates Buy On TearLab Ahead Of Next Week’s Analyst Day
In a research note published today, Roth Capital analyst Chris Lewis reiterated a Buy rating on TearLab Corporation (NASDAQ:TEAR) with an $8 price target, ahead of the company’s analyst and investor day scheduled for Tuesday, September 23.
Lewis noted, “We expect management to provide a detailed breakdown of its near-term and long-term growth strategies. We anticipate investors will look for an update on TEAR’s revamped commercial strategy and current utilization ordering trends. We feel confident management has taken the appropriate approach to facilitate efficient integration into customers’ practices and look for continued utilization improvements over the next several quarters” He continued, “While the majority of TEAR’s current business is in the U.S., we expect expansion into International markets will become more integral to TEAR’s growth strategy over the coming years. Recall, TEAR has European CE Mark approval. In April 2014, TEAR announced the appointment of Paul Smith from Alcon to a newly created position of VP, International, signaling an increasing focus on Intentional commercialization, in our opinion. We look for TEAR to outline its International strategy and outlook during the meeting.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Chris Lewis has a total average return of -9.9% and a 44.8% success rate. Lewis has a -74.5% average return when recommending TEAR, and is ranked #3214 out of 3304 analysts.