Raymond James Thinks Haemonetics Growth Is 'Underappreciated'

Earlier this week, Raymond James attended Haemonetics Corp's HAE Investor Day, where the management team presented a new Long-Range Plan (LRP), including some upside on the profitability, outlining each business unit's positioning and pipeline.
According to the analysts, the plan implies an upside to expectations, despite some conservatism and back-end weight.
Raymond James rolled the FY25 EPS estimate of $3.80 vs. the sub-$3.50 consensus into the event.
See the investor presentation here.
Though plasma was a major part of the discussion, the team highlighted the other portions of the business that can be viewed as moving towards a more diversified player.
The analysts note that vascular closure and hemostasis management are poised for more growth and offer a core set of offerings to build both organically and inorganically.
At ~14x CY22 EBITDA and ~22x CY22 EPS, Raymond James thinks the stock remains attractive in the context of stable growth, with Outperform rating unchanged and the price target raised from $63 to $76 (15% upside).
The analysts believe Haemonetics is positioned for healthy double-digit earnings growth underappreciated at current valuations.
Price Action: HAE shares are up 1.18% at $65.95 during the market session on the last check Friday.

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