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Fly News Breaks for November 26, 2019
CMD
Nov 26, 2019 | 05:42 EDT
Needham analyst Mike Matson upgraded Cantel Medical to Buy from Hold with a $94 price target. The company's organic growth and margins "have bottomed" and should begin to improve in fiscal 2021 with continued double-digit Medical growth and improving organic Dental growth, Matson tells investors in a research note. Further, the analyst believes a divestiture of Cantel's medical water business would be a positive catalyst with the benefit to organic growth offsetting the "modest" earnings dilution. As such, he now believes the stock is undervalued.
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