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Affymetrix Inc. Message Board

  • bittymack bittymack Oct 8, 2012 12:06 PM Flag

    News Just out - Analyst says buy AFFX - see enclosed or yahoo finance for proof

    This might close 5-8% down. So, nice gain of up to 10% if bought at $3.67 right now.
    Life science equipment company Affymetrix (AFFX) issued a disappointing third quarter revenue forecast as the company said it’s seeing academic institutions pull back on spending. The company said it now expects to post $80 million in revenue, below analysts’ expectations for $85 million. Shares fell 16% in midday trading.

    “Based on ongoing concerns about global academic funding as well as a weaker Euro, we now believe that total revenue for Affymetrix excluding eBioscience will be flat to slightly down for 2012 relative to the prior year,” said CEO Frank Witney.

    If universities are spending less on equipment, Affymetrix isn’t the only company that should be concerned, notes Mizuho analyst Peter Lawson.

    “While partially company-specific, the news adds further caution to academic spending, as well as negative tone from our academic surveys and more importantly the decline in our genomics sentiment survey,” Lawson wrote. Worldwide tightening of academic spending drove the miss. We are trimming our Street-low estimates. The news is negative for academically-exposed names – Illumina (ILMN), Life Technologies (LIFE), Fluridigm (FLDM), Thermo Fisher Scientific (TMO).‬

    Nonetheless, Lawson continues to recommend that Investors buy Affymetrix shares. “We like the valuation, and could see interest again from value shops and potential insider purchases.”

    Sentiment: Buy

 
AFFX
7.38-0.18(-2.38%)Oct 17 4:00 PMEDT

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