LifeTech Capital Raises Price Target On NeoStem To $4

NeoStem NBS closed their acquisition of Progenitor Cell Therapy which will continue as a subsidiary of NeoStem. PCT has served over 100 clients worldwide and has experience with over 20 different cell based therapeutics and has performed over 30,000 cell therapy procedures in its cell therapy manufacturing facilities. PCT has processed and stored over 18,000 cell therapy products including the logistics and transportation for over 14,000 cell therapy products for clinical use by over 5,000 patients. LifeTech Capital is raising its Target Price to $4 based on the multiple synergies with NeoStem such as stem cell banking, consulting and R&D capabilities which it believes will ultimately increase sales with reduced expenses. NeoStem and Progenitor Cell Therapy were already strategic partners so it expects a smooth transition and integration with NeoStem. LifeTech Capital's Strong Buy rating and 12-18 month Price Target of $4.00 is based on a 35x multiple on projected 2014 earnings and discounted 20% to adjust for risk. NBS closed Thursday at $1.46