Piper Jaffray Maintains ABAX Neutral Rating

Piper Jaffray has issued a report maintaining a Neutral Rating on Abaxis ABAX follwing a vet survey suggesting a stable market. According to the report, "Our survey uncovered a more optimistic 2H11 outlook, with median diagnostic testing volumes expected to increase 4.0%. We view initial interest in Abaxis' reference lab as encouraging, with 20% of survey participants describing interest if pricing is favorable to competitors, which we believe will be the primary differentiator of Abaxis' offering." ABAX has a $28.00 Price Target and closed at $28.44 a share yesterday.