Analyst Michael Petusky from Barrington maintained a Buy rating on Haemonetics and keeping the price target at $95.00.
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Michael Petusky has given his Buy rating due to a combination of factors, including Haemonetics’ strategic positioning and financial outlook. Despite a projected decline in overall revenue for the upcoming fiscal quarter, largely attributed to the winddown of the CSL relationship and recent divestitures, the company is expected to maintain solid demand in the plasma space. This is supported by positive feedback from plasma fractionators, indicating a strong market for plasma-derived therapies.
Moreover, Haemonetics’ hospital segment is projected to experience growth, and the company’s profitability is expected to remain stable with an improvement in gross margins. The company’s guidance for FY/26 suggests a potential for organic growth and improved operating margins, which aligns with the analyst’s positive long-term view. These factors contribute to Petusky’s confidence in maintaining an OUTPERFORM rating and a price target of $95 for Haemonetics’ stock.
In another report released on July 7, Citi also upgraded the stock to a Buy with a $90.00 price target.