ORLANDO, Fla., Dec. 14, 2006 (PRIME NEWSWIRE) -- RedChip Independent, a division of RedChip Companies, updated research on Nutrition 21 Inc. (Nasdaq:NXXI).
Lisa Springer, RedChip Research Analyst, CFA, wrote in the report:
"We initiated coverage of Nutrition 21 in June 2006 with a Buy rating and a one-year $3.64 price target, based on a six times multiple of projected 2007 revenues. We think these shares remain attractive at current prices, based on the Company's rollout of proprietary new products for insulin-related problems; Nutrition 21's strong balance sheet, with cash of nearly $11 million to support its marketing and advertising initiatives, and the Iceland Health acquisition, which provides the Company with a leading brand in the omega-3 market, the fastest-growing supplement category."
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RedChip Independent Research Disclosure
The analysts contributing to this NXXI RedChip report do not hold any shares of NXXI. Additionally, the analysts contributing to this report certify that the views expressed herein accurately reflect the analysts' personal views as to the subject securities and issuers. RedChip certifies that no part of the analysts' compensation was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analyst in the NXXI RedChip report. Additional information on the securities mentioned in this report is available upon request. NXXI is not a client of RedChip Company or Aurelius Consulting Group, a RedChip affiliate.