STRONG BUY Rating Reiterated
Key Largo, Fla., Nov. 21, 2008 -- AMI Research, a division of Hawk Associates, today announced that it has issued an update on its analyst coverage of NeoGenomics, Inc. (OTCBB: NGNM) based on the company’s Q3 ’08 results. AMI Research reiterated its Strong Buy rating with a price target of $2.20 by the end of 2009. The complete report is available at the AMI Research website www.amistockreports.com.
AMI Research report states, “We believe that it is entirely possible that NeoGenomics will realize considerably more than $20 million in revenue in 2008. We feel reasonably confident of and reiterate our 2009 EPS estimate for the company of $0.11 as we expect momentum to flow through the next year. Our price target, based on a multiple of 20x expected 2009 EPS, remains at $2.20 per share.”
The report also states, "Management has guided towards sequential revenue growth of 15% - 20% in the next quarters and has said that October was a record revenue month. We believe results may trend toward the higher end of this range as testing volumes and scale continue to increase due to ongoing marketing of new products, a new revenue stream from the Contract Research Organization (CRO) and continued rollout of the new GPS products. Its recent partnership with Response Genetics will add to the customer base and further highlights NeoGenomics’ ability to partner for high-end tests.”
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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