Retractable Technologies Rated 'Strong Buy/5,' Target $11 By Investrend Analyst Steve Loewengart, CMA-MBA


NEW YORK, March 22, 2004 (PRIMEZONE) -- The following is an investment opinion issued by Investrend Research Syndicate:

Retractable Technologies (AMEX:RVP) has been rated "Strong Buy/5," with a target valuation of $11, by Investrend Research analyst Steve Loewengart, CMA-MBA, who has assumed coverage, in an interim ResearchNote.

"Retractable Technologies, having recently won settlements from firms which practiced underhanded monopolistic actions involved in purchasing and distribution of medical syringes, can now compete in a fair marketplace, noted the analyst. "However, the key party in this legal action, Becton Dickinson & Co. (NYSE:BDX), has not entered into the settlement. This aspect of the case is scheduled for trial in July 2004."

Loewengart believes that with all other parties having settled, the Becton Dickinson defense has been weakened. With this as background, the company has plans to improve its distribution coverage in the United States, and to pursue opportunities in China, the Common Market, and South Africa, he stated.

"To back up its plans, Retractable Technologies has entered into an outsourced manufacturing arrangement with a Chinese company that will result in significant unit cost reductions. The company has also committed to construct a warehouse to provide better customer service to support its anticipated higher sales volumes."

With assumption of coverage, Loewengart has slightly reduced the 2003 revenue forecast to $17.8 million from the previous $18.2 million and reduced 2003 earnings per share to $0.26 from the previous $0.28. Pending his further review, he has maintained the forecasts for 2004 and 2005. He has also continued the strong buy investment rating pending his further review of the company's outlook.

The complete report is at http://www.investrendresearch.com.

The company is enrolled in Investrend Research's pioneering professional research program, which facilitates independent analysts to provide financial coverage for shareholders in companies that otherwise would have little or no analyst following. Enrollment fees for Institutional coverage are $28,300, and the fees were paid by the company. Analysts are paid in advance of initial reports by Investrend Research to eliminate pecuniary interest, and neither the analyst nor anyone associated with Investrend Research may own or trade in the stocks of a company under coverage.

The analyst's credentials are at http://www.investrend.com/articles/secondlevel.asp?level=238 . Complete information about any company enrolled in an Investrend shareholder empowerment platform, including those of its affiliates and independent analysts and webcasters, including disclosures and disclaimers, is available at the company's InvestorPower page at http://www.investrend.com/company/list.asp?sPathParam=yes, and on each report and press release, and investors are advised to read those disclosures carefully before trading in the equities of any enrolled company.

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