Piper Jaffray Positive On Med Tech Stocks In '10 More News related to AFFX
January 6, 2010 12:53 PM EST
Piper Jaffray upgraded the Med Tech Sector to Favorable, saying stocks in the sector are poised to outperform the overall market in 2010. The firm cited current valuation, resolution of health care reform, improving economic outlook, and the relative weakness of the U.S. dollar against other major currencies.
Top Picks for 2010 in the sector include Baxter International Inc. (NYSE: BAX) (OW $71 tgt) and Medtronic, Inc. (NYSE: MDT) (OW $50 tgt) for large caps, and ATS Medical Inc. (Nasdaq: ATSI) (OW $4 tgt), MAKO Surgical Corp. (Nasdaq: MAKO) (OW $14 tgt), Masimo Corporation (Nasdaq: MASI) (OW $38 tgt), Myriad Genetics Inc. (Nasdaq: MYGN) (OW $41 tgt), and Volcano Corporation (Nasdaq: VOLC) (OW $22 tgt) in the small to mid-cap arena. They also like Axis-Shield in Europe (ASD Ln).
The firm also said the M&A environment in the sector could heat up in 2010. A list of companies they think could be attractive takeover candidates include: Edwards Lifesciences Corp. (NYSE: EW), Masimo (Nasdaq: MASI), Volcano (Nasdaq: VOLC), Wright Medical Group Inc. (Nasdaq: WMGI), Cyberonics Inc. (Nasdaq: CYBX), Affymetrix Inc. (Nasdaq: AFFX), HeartWare (Nasdaq: HTWR), DexCom, Inc. (DXCM), MAKO Surgical (Nasaq: MAKO), ATS Medical (Nasdaq: ATSI), Nanosphere (Nasdaq: NSPH), TranS1 (Nasdaq: TSON).
Don't worry, my friend. Our day will come. Hang in there and be patient. This stock is ripe for the picking. This is a nice long term growth story with a pristine balance sheet. What more can you ask for? All analysts do is pass the time with BS upgrades and downgrades to keep themselves employed. Earnings days are the only thing that matters and earnings are less then 2 weeks away.