KeyBanc last night upgraded Omnicell (OMCL) to Overweight from Sector Weight with a $60 price target The firm believes the company is well positioned for better sales and earnings over the next several years from a potential “super-cycle.” The cycle will be driven by competitive wins over the major cabinet player in the duopoly and replacement of XT cabinets at end of life, the analyst tells investors in a research note. KeyBanc believes the launch of Titan XT cabinets “unlocks major strategic catalysts” for Omnicell.
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