(ZOLL) ZOLL Medical Corporation – Bull of the Day

We upgrade our recommendation on ZOLL Medical Corp. (ZOLL) to Outperform following its forecast-topping fourth quarter results. Revenues and earnings for the quarter outperformed the Zacks Consensus Estimates, driven by strong contributions from the company’s LifeVest and temperature management franchises, backed by higher sales in the North American hospital market.

We are pleased with ZOLL’s solid fundamentals and its broad product range. Moreover, its significant international presence should also drive growth. The company has completed multiple acquisitions and is seeking more such lucrative transactions to aid growth.

Management’s outlook for fiscal 2012 appears encouraging with sales are expected to grow at a healthy double-digit clip on the strength of the company’s core defibrillator business. Our price target of $53 is based on 27.3x our fiscal 2012 EPS estimate.

ZOLL MEDICAL CO (ZOLL): Free Stock Analysis Report

Zacks Investment Research

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