Haemonetics initiated with an Overweight at JPMorgan

JPMorgan analyst Rohin Patel initiated coverage of Haemonetics (HAE) with an Overweight rating and $116 price target Haemonetics has “multiple shots on goal” that should support sales acceleration and healthy cash flow generation over the coming years as the mix shifts to premium, higher margin interventional products, and the commercial plasma business normalizes, the analyst tells investors in a research note. The firm thinks a “strong” fiscal Q2 and underlying business trends should support high-20%’s operating margin next year, with further upside thereafter.