Cantor Fitzgerald reiterates a 'Buy' on Given Imaging (NASDAQ: GIVN) price target of $26.00.
Analyst, Jeremy Feffer, said, "While much of investor attention has been focused on Colon 2 progress, Given's strong 4Q:11 performance reminded us that there is still much to like about the existing business. 2012 will bring important developments on the regulatory front, with Colon 2 moving closer to approval in both the U.S. and Japan, but base business revenues are poised to grow double digits, based on the guidance midpoint."
"Our 2012 revenue/EPS estimates go from $189.4 million/$0.72 to $195.6 million/$0.76, and we now apply a 3.6x multiple on 2012 revenues to arrive at our new price target of $26."
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Shares of Given Imaging closed at $18.62 yesterday, with a 52 week range of $13.53-$22.92.