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Fly News Breaks for September 28, 2016
NEOG
Sep 28, 2016 | 08:43 EDT
Roth Capital analyst Anton Brenner believes that while adverse currency translation and the removal of a product from the market adversely affected comparisons in Q1, Neogen's outlook for rapid growth remains intact. Moreover, he expects that the implementation of the Food Safety Modernization Act and increasing food safety considerations in developing international markets, in addition to periodic acquisitions, will generate sustainable double-digit revenue growth and improving profit margins over the next several years. The analyst reiterates a Buy rating and $68 price target on the shares.
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