Dutton Associates Announces Investment Opinion: Nutrition 21 Strong Buy Rating Reiterated in Update Report by Dutton Associates
Wednesday March 21, 12:00 pm ET
EL DORADO HILLS, Calif.--(BUSINESS WIRE)--Dutton Associates updates its coverage of Nutrition 21 Inc. (Nasdaq:NXXI - News), maintaining its Strong Buy rating and establishing a 12-month price target of $2.75. The 8-page report by Dutton Associates senior analyst William R. Prather, RPh, MD is available at www.jmdutton.com as well as from First Call, Bloomberg, Zacks, Reuters, and Knobias and other leading financial portals. Nutrition 21 is a nutritional bioscience company. Our FY2007 revenue forecast of approximately $47 million represents approximately a four-fold increase over FY2006 revenues, with the projected product sales mix shifting towards finished products being sold through higher margin retailers. This revenue increase will come from sales of Chromax® (chromium picolate marketed to vitamin and supplement manufacturers) and Diachrome® (for type-2 diabetes) as well as from products obtained in the Iceland Health acquisition (markets and sells a line of products that contain fish oil and omega-3 fatty acids).
About Dutton Associates
Dutton Associates is one of the largest independent investment research firms in the U.S. Its 27 senior analysts are primarily CFAs, and have expertise in many industries. Dutton Associates provides continuing analyst coverage of 110 enrolled companies, and its research, estimates, and ratings are carried in all the major databases serving institutions and online investors.
The current cost of enrollment in our one-year continuing research program is US $35,000 prepaid for 4 Research Reports, typically published quarterly, and requisite Research Notes. Dutton Associates received $55,000 from the Company for 8 Research Reports with coverage commencing on 7/06/04. The Firm does not accept any equity compensation. Our principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analyst's personal views about the subject securities or issuer. Neither the analyst's compensation nor the compensation received by us is in any way related to the specific ratings or views contained in this research report or note. Please read full disclosures and analyst background at www.jmdutton.com before investing.
Contact:
Dutton Associates, LLC
John M. Dutton, 916-941-8119
Source: Nutrition 21 Inc.
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