STRONG BUY Rating
Key Largo, Fla., Nov. 21, 2008 -- AMI Research, a division of Hawk Associates, today announced that it has re-initiated research coverage of NeoGenomics, Inc. (OTCBB: NGNM) with a STRONG BUY rating and a 2009 price target of $2.20. The complete report is available at the AMI Research website www.amistockreports.com.
The report says, "In the past two years the company has invested in infrastructure and management and we anticipate a rapid acceleration of earnings as NeoGenomics leverages its newly created capacity. The company recently completed the transition from a wholesale to a retail business model and is poised to deliver significant long-term growth as a provider of high-end genetic testing services for cancer. The scarcity of qualified genetics cancer labs enables NeoGenomics to effectively compete with much larger institutions, which merits a premium multiple for the shares."
The report also notes that an experienced core management team provides a sound base to support growth, which has already begun with the recent expansion of the company's geographic presence, now serving 31 states. AMI expects NeoGenomics to continue posting positive cash flow from operations in the next 12 months and to scale revenues faster now that the drag in sales from its shrinking wholesale business has been removed.
About AMI Research
AMI Research is a leading provider of issuer-paid research coverage and a division of Hawk Associates Inc. AMI Research offers high quality and credible fundamental analysis of promising small companies that do not have traditional Wall Street analyst coverage. These detailed reports provide serious investors with an in-depth understanding of a company and its technology, industry, strategic position, business model, financial history and future prospects.
AMI Research abides by the Best Practice Guidelines Governing Analyst and Corporate Issuer Relationships, developed by the CFA Institute in conjunction with the National Investor Relations Institute (NIRI). The cost of a newly initiated enrollment in our one-year continuing research program is $30,000 prepaid for four research reports. NeoGenomics paid $18,000 for the re-initiation of coverage for one year. We do not accept payment of our fees in company shares, and all AMI Research and Hawk Associates personnel are prohibited from owning or trading in securities of covered companies. The views expressed in this report accurately reflect the analyst’s personal views about the subject securities or issuer. Neither the analyst’s compensation nor the compensation received by AMI Research is in any way related to the specific ratings or views contained in this research report.
About Hawk Associates
Since 1995, Hawk Associates has been helping microcap and small companies build valuation, support and credibility on Wall Street through customized, sustainable investor relations strategies. Hawk specializes in developing communications strategies that stand out in a universe of more than 5,000 small and microcap companies on Wall Street. Hawk has nearly 60 years of collective IR experience and serves clients in the United States, the U.K., China and Vietnam.
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