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Fly News Breaks for June 14, 2016
ATRI
Jun 14, 2016 | 09:00 EDT
BWS Financial analyst Hamed Khorsand attributes the recent rally in shares of Atrion Corp. to a "case of mistaken identity." Reuters on June 8 reported that Carousel Industries was intent to acquire Atrion, Inc., and since that time the headline has been sometimes tagged with symbol ATRI even though the two companies are different, Khorsand tells investors in a research note. Atrion Corp. is in the medical equipment business and based in Dallas while Atrion Inc. is an IT services company based in Rhode Island, the analyst points out. He views Atrion Corp. as an attractive short at current levels. Khorsand expects the company's earnings and revenue to show erosion the next two quarters. He keeps a Sell rating on the shares with a $300 price target.
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