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Fly News Breaks for February 2, 2020
SMED
Feb 2, 2020 | 16:20 EDT
Stifel analyst Michael Hoffman upgraded Sharps Compliance to Buy from Hold with a price target of $6.00, up from $4.50. The company over the last three quarters has demonstrated the ability to deliver "strong, sustainable" growth in route based collections and unused medication, Hoffman tells investors in a research note. In addition, Sharps has demonstrated "healthy" operating leverage with quarterly adjusted EBITDA margins averaging 9.0% over the prior three quarters, adds the analyst. He believes this "repeatable" growth supports a $6 price target and an upgrade to Buy.
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