Haemonetics initiated with an Outperform at Baird

Baird initiated coverage of Haemonetics (HAE) with an Outperform rating and $87 price target As the leader in the $800M worldwide plasma collection solutions market, Haemonetics is poised to remain a beneficiary of an expanding plasma-derived therapeutics market, the analyst tells investors in a research note. Near-term, the company will contend with an anticipated plasma contract-end dragging organic growth negative-to-up low-single-digits and a revamping Vascular Closure business, but the firm sees normalized high-single and low-double digit revenue and EPS growth longer term, the firm added.