Morgan Keegan Has Outperform On OSI Systems (OSIS)

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Morgan Keegan has an Outperform rating and a $43 price target on shares of OSI Systems OSIS. In a note to clients, Morgan Keegan writes, "OSI announced that the company was awarded a multi-million dollar contract from a European customs agency to provide a rail cargo screening system. We believe OSI is the first company to deploy a screening system optimized for rail cargo, and we are optimistic that this award will help open up a significant new market going forward (little to no rail cargo is currently screened, either in the U.S. or internationally). We additionally note that we remain very optimistic about the outlook for OSI going forward and confident in our estimates for the upcoming quarter, and believe that the recent pullback in valuation is an excellent opportunity for investors. We maintain our Outperform rating and $43 price target." Shares of OSIS gained 12 cents yesterday to close at $33.78.
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