Haemonetics downgraded to Outperform from Strong Buy at Raymond James

Raymond James downgraded Haemonetics (HAE) to Outperform from Strong Buy with a price target of $78, down from $105. The firm also removed the shares from its Analyst Current Favorite list. Haemonetics’ interventional technologies franchise declined in Q2 due to issues around selling execution, the analyst tells investors in a research note. Raymond James views the issues as fixable, but its confidence on the execution and timing of doing so has waned. The firm continues to view Haemonetics as an attractive and undervalued asset.