January 21, 2007 9:28:58 AM ET 2) eResearch TARGET: 16.00 Medifast initiated with "buy" January 21, 2007 9:28:58 AM ET eResearch
NEW YORK, January 22 (newratings.com) - Analyst Laura Richardson of eResearch initiates coverage of Medifast Inc (MDF.ETR) with a "buy" rating. The 12-month target price is set to $16.
In a research note published on January 19, the analyst mentions that the company is well positioned to benefit going forward from weight-related concerns and is poised to capitalize on this trend through an increase in its ad spending. Medifast faces an opportunity to generate over $700 million in revenues in the forthcoming five-to-ten years, the analyst says. The company is expected to achieve 38% and 30% earnings growth this year and in the long-term, respectively, eResearch adds. http://www.newratings.com/analyst_news/article_1460039.html