William Blair analyst Brandon Vazquez has maintained their neutral stance on NEOG stock, giving a Hold rating on September 13.
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Brandon Vazquez has given his Hold rating due to a combination of factors surrounding Neogen’s current situation. The announcement of CFO and COO David Naemura’s departure has created uncertainty, particularly as it coincides with a leadership transition involving the incoming CEO, Mike Nassif. While Naemura’s exit is attributed to personal reasons, the timing of this transition, alongside the lack of a preannouncement for the quarter’s performance, has negatively impacted the stock’s performance.
Vazquez notes that the absence of commentary on the quarter’s results, coupled with ongoing leadership changes, is likely to continue affecting investor sentiment until the earnings release in early October. Additionally, the search for a new CFO appears to have started prior to the announcement, but the timeline for finding a replacement remains unclear. These factors, combined with existing challenges in the company’s financial performance and execution, suggest limited potential for significant share price appreciation, justifying the Hold rating.
In another report released on September 13, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $5.50 price target.