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Fly News Breaks for November 16, 2015
CMN
Nov 16, 2015 | 08:59 EDT
Piper Jaffray analyst Thomas Gunderson points out that the FDA on Friday issued a statement ordering Custom Ultrasonics to recall all of its automated endoscope reprocessors from health care facilities. The news is "especially favorable" for Cantel Medical as Custom is a major competitor comprising nearly a quarter of the U.S. AER market, Gunderson tells investors in a research note. He reiterates an Overweight rating on Cantel and raised his price target for shares to $70 from $68.
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